A. At the request of the Chair of the Finance Subcommittee of the House Appropriations and Budget Committee or the Senate Finance Committee, the Oklahoma Tax Commission shall prepare an incidence impact analysis of a bill or a proposal to change the tax system which increases, decreases, or redistributes taxes by more than Twenty Million Dollars ($20,000,000.00). To the extent data is available on the changes in the distribution of the tax burden that are affected by the bill or proposal, the analysis shall report on the incidence effects that would result if the bill were enacted. The report may present information using systemwide measures, such as the Suits or other similar indexes, by income classes, taxpayer characteristics or other relevant categories. The report may include analyses of the effect of the bill or proposal on representative taxpayers. The analysis must include a statement of the incidence assumptions that were used in computing the burdens.
B. The incidence analyses shall use the broadest measure of economic income for which reliable data is available.
Added by Laws 2017, c. 197, § 1, eff. Nov. 1, 2017.
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