Library filed under Taxes & Subsidies from Oklahoma

Lid blown off wind subsidies

Thankfully, the lid has been blown off Oklahoma’s previously well-hidden wind subsidies. Projections that the Windfall Coalition and others provided to legislators over the past year are now being realized. With another budget shortfall looming over our state, legislators can no longer ignore the glaring deficit being largely driven by Oklahoma’s wind giveaway.
17 Jun 2016

Corporate tax is big loser for Oklahoma in May

"Conventional wisdom says general revenue collections should rebound when oil stabilizes, but the reality is any rebound will be significantly hamstrung by wind incentives without legislative action. The revenue erosion wind incentives caused in May will be the new normal for years unless legislators act," Doerflinger said.
15 Jun 2016

Wind debate: Incentives blowing a hole in Oklahoma's budget

As these overly generous subsidies are being called into question, the only leg the wind industry is purportedly standing on is that it is helping local schools. This could not be a more disingenuous argument. According to the wind industry's own research, state reimbursements — not wind companies — are responsible for the vast majority of “wind industry payments” to schools.
29 Apr 2016

Anti-wind industry signs popping up across the Metro

Ok-billboard_thumb The signs were put up just two weeks after State Auditor Gary Jones wrote a scathing piece in the Tulsa World calling the subsidies “nothing short of a giveaway." In the piece, Jones said the state lost $88 million in tax credits, $44 million in sales taxes that were supposed to go to schools and $67 million in sales tax exemptions. 
16 Mar 2016

Auditor Gary Jones: Are wind subsidies adding to budget shortfall?

Out of the $130-plus million in subsidies Oklahoma taxpayers hand over to wind companies every year, over $120 million literally is going to companies in Portugal, Italy, Spain, Germany, Venezuela, Texas, New York, Florida, Illinois, Maryland, and Georgia. Furthermore, the property taxes being trumpeted by wind lobbyists simply do not add up. The truth is taxpayers from across Oklahoma have paid the bulk of wind’s property taxes, not out-of-state and foreign wind developers.
2 Mar 2016

Bill introduced to end wind tax credit

A senator from the windswept state of Oklahoma wants to remove a tax credit for wind energy from the tax code. ...Lankford contends the tax credit has outlived its usefulness and is a redundancy since 37 states already provide incentives for wind energy production. He said wind generation has grown 5,000 percent since the tax credit was instituted in 1992.
8 Oct 2015

Reaching for the wind to power Memphis

It comes down to whether TVA decides to step up its purchase of wind energy. Fracking has made natural gas abundant and cheap to burn in electric plants. Wind appears costly without tax breaks. But energy analysts figure gas prices eventually will rise. And long-term wind power contracts could lock in prices below the ultimate level gas reaches in a decade or more.
19 Jul 2015

Oklahoma wind industry looks to finish projects before tax incentives end

Tax exemptions and tax credits for wind energy cost the state nearly $49 million last year. Left unchanged, the price tag would have reached $77 million by 2018, according to estimates from the Oklahoma Tax Commission. Wind developments, however, still qualify for Zero Emission Tax Credits, which drew some of the heaviest criticism from Mosier and other opponents of wind subsidies because they are “open-ended.”
16 Jun 2015

Good winds blowing

Senate Bill 498 by state Sen. Mike Mazzei, R-Tulsa, and Sears, signed May 20, repeals the ability of the wind industry to qualify for a five-year property tax exemption. This provides a good start in addressing the magnitude of industrial wind’s subsidies and negative impact on Oklahoma’s budget.
29 May 2015
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