Ponca City, OK

Now: 98 °F

Currently: Fair

Hi: 99 °F | Lo: 74 °F

Sunday

Hi: 101 °F 

Lo: 72 °F

Monday

Hi: 84 °F 

Lo: 63 °F

Tuesday

Hi: 84 °F 

Lo: 61 °F

Wednesday

Hi: 86 °F 

Lo: 63 °F

Thursday

Hi: 88 °F 

Lo: 66 °F

Bills ending 2 energy tax credits clear Senate committee

The Associated Press and The Oklahoman - November 4, 2017 11:28 am

Bills ending 2 energy tax credits clear Senate committee
(Information from: The Oklahoman, http://www.newsok.com)
OKLAHOMA CITY (AP) – Two bills that would end cash payments for unused tax credits to the coal and the wind industries in Oklahoma have passed out of a state Senate committee.
The bills authored by Republican Sen. Josh Brecheen cleared the Senate Rules Committee on Thursday and would take effect Jan. 1.
The 12-member committee, which includes 10 Republicans and two Democrats, voted 6-4 to recommend each bill be passed. The bills now go to the full Senate.
The bills would end payments to the industries for unused income tax credits. The original law was intended to increase capital investment in the state, but a recent study found no evidence that has occurred.
The Oklahoman reports that Brecheen said the state could eventually save $54 million a year by repealing the incentives.

Image: KJRH

 

Latest Stories

Oklahoma County joining lawsuit against opioid manufacturers

OKLAHOMA CITY (AP) – Oklahoma County has joined over 50 other cities and counties in the...

Oklahoma man accused of raping child in McDonald’s bathroom

MIDWEST CITY, Okla. (AP) – A 37-year-old Oklahoma man has been jailed on rape complaints after...

Stitt, Hofmeister call for investigative audit of Epic Charter Schools

OKLAHOMA CITY (AP) – Oklahoma Gov. Kevin Stitt and State Superintendent Joy Hofmeister are calling for...