Oklahoma lawmakers, wind industry get close to deal on tax incentives
By Paul Monies
Oklahoma lawmakers and representatives of the wind industry are close to a deal to end two tax incentives for wind farms while keeping another.
Under the tentative agreement, a five-year property tax exemption for new wind farms would end after 2016, but a zero-emissions tax credit would remain in place. Another incentive that isn’t used much by wind developers, the investment tax credit, would end Jan. 1, 2017.
Agreements on Senate Bills 498 and 502 were put in place during negotiations Wednesday afternoon before their approval by the House appropriations and budget committee.
Wind industry representatives cautioned the bills still have a couple more steps, but said they remain hopeful that the agreement holds up.
The ending date for the property tax exemption in SB 498 remains a sticking point, said Rep. Earl Sears, R-Bartlesville.