Oklahoma House votes to roll back tax credit for wind energy

The Associated Press - March 10, 2017 10:55 am

OKLAHOMA CITY (AP) – The Oklahoma House has approved legislation to roll back a state tax credit for the wind energy industry.
The House passed the bill Thursday by a vote of 74-24 and sent it to the Senate for consideration.
The bill modifies the tax credit for electricity generated by zero-emission facilities like wind turbines. It says facilities must be in operation by July 1 in order to qualify for the credit, instead of the current deadline of Jan. 1, 2021.
Gov. Mary Fallin proposed eliminating the wind tax credit to increase revenue amid a projected $868 million budget shortfall next year. The tax credit will cost $40 million this year and will average $60 million a year over the next 15 years.


House Bill 2298: http://bit.ly/2n4j7gg

 

Latest Stories

Ponca City High School Building Lady Cat Wrestling Team

Po-Hi is looking to build a team full of strong young women to participate in Lady...

NewPoint Church Hosting Back to School Event

School will begin in Ponca City on Wednesday, August 24th. NewPoint Church will host a Back-to-School...

Accusers Dismissed From Civil Rights Lawsuit Against Former OKC Officer Convicted Of Rape

OKLAHOMA CITY –  A civil lawsuit against a former Oklahoma City Police Department officer serving a 263-year prison...