Report calls wind industry tax credits overly generous

The Associated Press and The Oklahoman (http://www.newsok.com ) - November 7, 2016 9:06 am

OKLAHOMA CITY (AP) – A new report says an Oklahoma tax credit that provides millions of dollars to the wind industry is overly generous and should be trimmed sooner than planned.

The Oklahoman reports the report by the consultant Public Financial Management says Oklahoma provides about $1 billion in business tax breaks annually at a time when the state has been facing huge shortfalls in revenue needed to provide core public services like education, health and public safety.

The report was reviewed by a legislative committee on Friday, and some lawmakers say it’s time to determine whether some credits should be cut. The largest being considered is for emission-free energy production facilities.

Wind power is the biggest recipient of the credit, which had a financial impact of more than $113 million in 2014.

 

Latest Stories

19-Year-Old’s Body Recovered near Lake Texoma

The body of 19-year-old Julian “JJ” Olley was recovered by Oklahoma State Bureau of Investigation (OSBI)...

Stillwater Man Injured in Payne County Wreck

21-year-old Bailey Miller of Stillwater had to be taken by MediFlight to OU Medical Center in...

Bush Supports DHS Director’s New Service-First Model

OKLAHOMA CITY – State Rep. Carol Bush, R-Tulsa, today commented on the Service-First model announced by...