The Senate

Can't get it right for some strange reason?

Does this mean they failed twice? Or, they have their stories crossed?

"It's awful," said state Sen. Ted Fisher, who in the 1990s authored the two pieces of venture capital tax credit legislation that are now being abused.

Fisher said the abuses started after some unknown person "tweaked" the law and he failed to notice. [A 104]

Sen. Ted Fisher, D-Sapulpa, Oklahoma State Senate Majority Leader
Previously: Chairman of the Senate Economic Development Committee

The House

Just can't get it right either.

State Rep. Kevin Calvey, R, Chairman of the House Revenue and Taxation Committee

Calvey said the Legislature tried to close the loophole last year by eliminating borrowed money from tax credit calculations, but tax attorneys figured out a way to circumvent the prohibition using limited liability companies. [A 103]

State Rep. Calvey, received $21,900 in donations from an Altus group that is heavily involved in a tax credit program Calvey is involved in changing.

Between Mr. Calvey receiving the $21,900 in donations and work was to start on the bill, Mr. Paul Doughty and Mr. Calvey had discussion over the loophole and fixes. [Ref A104]

"He (Doughty) did express concern that there were some legitimate programs going on and he didn't want them to be thrown out with the bad ones," said Calvey, R-Del City.

Within a matter of days the work on this legislation ceased. [Ref M101]

Mr. Doughty must have presented a very convincing argument to persuade Mr. Calvey to suddenly back out on his oft stated promise "We are going to fix whatever problems there are with the tax credit program?"