The Oklahoma House of Representative passage of HB 1747 is being hailed by Farm Bureau as good for rural Oklahoma. The bill allows for the creation of 25 Rural Opportunity Zones. Beginning in 2016, this bill would allow for a five-year tax exemption for anyone who moves from out-of-state into a county projected to see a population loss. The bill’s primary author is Rep. Tom Newell.
During our conversations with House Speaker Jeff Hickman, a co-author of the legislation, we know he realizes the importance of rural Oklahoma and the impact the area has on the state’s economy.