OK touts TX Historical Tax Credit as OK seeks Repeal.

Oklahoma Legislature is moving toward a repeal of its historical tax credit that is utilized to redevelop historic structures.

How the historical tax credit works in Oklahoma:

• reimburse up to 20% of the cost of a redevelopment project
• requires that the building retains much of its original features
• implemented in 2006
• Has provided for $155.9 million in tax credits for 16 projects

How the historical tax credit works in Texas:

• reimbursement for 25% of construction costs
• implemented in 2013

Tulsa World | Historic tax credits spur redevelopment, supporters say