OK HB2977

Recreates the Task Force for the Study of State Tax Credits and Economic Incentives with ten members including legislative leaders, state officials, and minority leaders.

Expands the Task Force's study scope to include all state tax credits regardless of tax type and any other economic incentives affecting state or local tax liabilities.

Requires the Task Force to submit a final written report with findings and recommendations to the Governor, House Speaker, and Senate President Pro Tempore by December 31, 2012.

Changes the Task Force's organizational meeting date from September 30, 2011 to September 30, 2012 and extends its termination date from January 1, 2012 to January 1, 2013.

Becomes effective July 1, 2012 and includes an emergency clause for immediate implementation upon passage and approval.