Tulsa World
By Associated Press
Published: 5/18/20112:47 PM
Last Modified: 5/18/20112:47 PM
OKLAHOMA CITY — The Oklahoma Senate has given final approval for a closing fund the governor could access to help lure businesses to the state.
The Senate voted 42-3 on Wednesday to create the Oklahoma Quick Action Closing Fund, a priority of Republican Gov. Mary Fallin.
Although no money has been appropriated to the fund, some lawmakers expressed concern there was not enough oversight of expenditures. The bill only requires that the governor consult with legislative leaders before expending money from the fund.
But Sen. Mike Mazzei, who sponsored the bill in the Senate, said the measure requires the Department of Commerce to ensure companies that receive money from the fund meet certain requirements and provide a "net economic benefit" to the state.
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Posted on
Wed, May 18, 2011
by John Cox