Articles filed under Taxes & Subsidies from Oklahoma

Legislation would cut Oklahoma's property tax exemption for new wind power plants

Under Senate Bill 498, the state would no longer offer a five-year property tax exemption for new wind energy developments. Existing wind facilities would keep the exemption. Sen. Mike Mazzei, R-Tulsa, one of the authors of the bill, said the legislation is needed because Oklahoma tax incentives for the wind power industry have grown more rapidly than intended.
16 Apr 2015

Wind energy bills continue to progress

“These credits were originally approved to encourage job growth through incentives for what was then a fledgling industry in this state,” Mazzai said. “That is no longer the case, so in a time of limited state resources, revisiting those incentives to ensure the benefits do not outweigh the cost is a responsible approach on behalf of Oklahoma taxpayers.
12 Mar 2015

It's time to drop the wind energy subsidies

To AWEA, project standstills are reason to revive the $23 per megawatt hour tax credit. But 22 years of tens of billions in subsidies is plenty. Oklahoma’s subsidies pale compared with Uncle Sam’s, but they’re still oversized. The industry says Oklahoma wind subsidies to date have been $120 million. With 1,711 operating windmills, that’s $700,000 per windmill. Plus Oklahoma pays additional amounts for each year a windmill operates.
31 Oct 2014

Dank blasts last minute tax credits

Dank said the wind tax credits, among the most costly issued by state government, benefit some companies that are selling the power they generate to other states. "The Oklahoma taxpayers are being asked to subsidize electric customers in Tennessee and Alabama," he said.
20 May 2013

Okla. lawmakers resume study of state tax breaks

Rep. David Dank, chairman of the Task Force on State Tax Credits and Economic Incentives, said the fact that the tax credits being analyzed are transferrable is particularly troubling. This means the tax credits are frequently sold for less than their value to reduce the tax liability of companies in an unrelated industry.
27 Oct 2011

Moratorium on state wind energy tax credit cut in half

A moratorium on a state wind energy tax credit still will go into effect July 1, but the length of time it will last has been cut in half. Curt Roggow, government relations consultant for The Wind Coalition and the city of Enid, said the state's moratorium on the production tax credit has been reduced from two years to one year, following state budget talks last week.
9 Jun 2010

Producers hoped for longer tax breaks

Producers, lobbyists and analysts are watching closely as Congress continues to weigh numerous tax provisions related to both renewable sources and to traditional oil and natural gas. Action this week was in the Senate, where an overwhelming majority approved an amendment dealing with tax breaks for renewable energy to House Resolution 3221, the Foreclosure Prevention Act of 2008. ...One analyst and an electricity producer, in fact, were watching one issue specifically - the extension of a tax credit through 2009 for producing electricity from renewable sources, such as wind. Simply put? They were hoping for a longer extension.
12 Apr 2008

Senate passes tax credit over GOP objections

OKLAHOMA CITY (AP) - Consumers who purchase wind turbines to provide electricity for their homes would get a tax break under a bill approved Tuesday by the Oklahoma Senate. Under the bill, consumers could get a 40 percent tax credit on the cost of a wind turbine. Critics said it was not economically feasible for most homeowners since the average cost of a wind turbine for home use is about $50,000. Some objected to the bill because it also gives the same tax credit to solar energy devices. Sen. Mike Johnson, R-Kingfisher, called the bill "irresponsible."
19 Apr 2007
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