Wind energy supporters argue proposed bills raise red flags for future business in Oklahoma
KOCO-TV |Bret Buganski |February 19, 2019
Two controversial wind energy bills that could be heard this legislative session calls for stripping companies' tax incentives and making them pay a new tax. Critics say the bills raise red flags for future business in Oklahoma.
Two controversial wind energy bills that could be heard this legislative session calls for stripping companies' tax incentives and making them pay a new tax. Critics say the bills raise red flags for future business in Oklahoma.
OKLAHOMA CITY — Two controversial wind energy bills that could be heard this legislative session calls for stripping companies' tax incentives and making them pay a new tax.
Critics say the bills raise red flags for future business in Oklahoma.
"We made a deal. The problem is it costs a lot of money," said Rep. Mark McBride, R-Moore.
House Bill 1233, which McBride authored, would end tax credits for zero-mission facilities that generated electricity after Jan. 1, 2014. The bill would generate more than $132 million over three years, but there are tax credits that were promised to wind companies as an incentive to conduct business in Oklahoma.
"If I was on their side, I'd say, 'Yes,'" McBride said about if the bill …
... more [truncated due to possible copyright]OKLAHOMA CITY — Two controversial wind energy bills that could be heard this legislative session calls for stripping companies' tax incentives and making them pay a new tax.
Critics say the bills raise red flags for future business in Oklahoma.
"We made a deal. The problem is it costs a lot of money," said Rep. Mark McBride, R-Moore.
House Bill 1233, which McBride authored, would end tax credits for zero-mission facilities that generated electricity after Jan. 1, 2014. The bill would generate more than $132 million over three years, but there are tax credits that were promised to wind companies as an incentive to conduct business in Oklahoma.
"If I was on their side, I'd say, 'Yes,'" McBride said about if the bill breaks promises to wind energy companies.
"That signals a red flag. Can the state of Oklahoma be trusted? So, hopefully, we put to bed some of these retroactive tax policy ideas," said Mark Yates, with the Wind Coalition.
The second bill, House Bill 1234, would create a new tax for the wind industry that's expected to bring in tens of millions of dollars on top of the county, or ad valorem taxes the companies already pay across Oklahoma to fund some public schools.
While McBride decided not to hear the two bills Monday, he hopes the wind industry will come to the table, where both sides can reach a new agreement on how the industry will be taxed.