Tax Credits

A bill that brings an early end to the last major tax incentive for the wind industry has cleared its last legislative hurdle and now awaits Gov. Mary Fallin’s signature.

Joe Wertz / StateImpact Oklahoma

One major tax incentive for wind energy remains on the books in Oklahoma. And the Legislature is poised to end it — more than three years early. The politics of renewable energy have changed as state revenues have failed, but some wind producers say lawmakers are backing out on a deal, and that sends a bad message to any industry considering investing in Oklahoma.

Oklahoma’s wind industry has grown year after year. With 3,400 turbines spread across 41 wind farm projects, the state ranks No. 3 in the nation in the American Wind Energy Association’s report on wind power capacity.

Larry Smith / Flickr

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.

House Bill 2298 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.

President Trump has indicated several times now that his education agenda may feature a school choice program known as tax credit scholarships.

Joe Wertz / StateImpact Oklahoma

An organization opposed to wind powerincentives says payouts could total $5.2 billion by 2030 if Oklahoma’s zero-emissions tax credit continues, “an amount the wind industry said is highly inflated,” The Oklahoman’s Paul Monies reports:

Logan Layden / StateImpact Oklahoma

The latest update of the National Register of Historic Places includes the kinds of Oklahoma buildings you’d expect to be on such a list: a school in Atoka built for black students during the New Deal era, a church in Garfield County barely altered since its construction in 1928, a hotel in Guymon that’s been the tallest building in town for nearly 70 years.

Oklahoma legislators are considering eliminating some tax credits and incentives for businesses to help plug a $1.3 billion budget gap. The state’s fiscal crisis has led some oil and gas leaders to push lawmakers to end incentives for the wind industry.

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