A Wednesday vote by the Oklahoma Senate has only shored up the state’s image of targeting some of Oklahoma’s new energy industries.
Without debate on Wednesday, the Oklahoma Senate adopted a restriction on the olar industry, passing a bill to extend indefinitely a $25 million cap on tax credits to solar energy operators.
Sen. Marty Quinn, who led an unsuccessful effort this week to eliminate refundability of the wind tax credits, led the effort for SB 893.
The vote was 31-8 in support of the measure. The Oklahoma House had voted 66-26 in April to approve the bill.
The bill focuses on tax credits for electricity generated by zero-emission facilities. It was an amendment to the law that relates to the Investment/New Jobs Income Tax Credit and removes the expiration of the $25 million statewide cap and how the cap is administered.
A fiscal impact statement from he Tax commission did not include an estimated cost or savings .
“There is an unknown impact to income tax collections in FY19 and FY20 as a result of this measure,” offered the Commission when the statement was issued in February.
While the measure targeted the solar industry, which is just getting started in Oklahoma, Mark Yates with the Wind Coalition was critical.
He lamented how the legislature is going after solar just like it has the wind industry, “Even before it’s had a chance to get its legs on the ground.”
Here is how the Senate voted on the solar tax credit measure.
SENATE BILL 893 Revenue and taxation; tax credits for
Quinn electricity generated by zero- emission
facilities; imposing cap on tax credits;
authorizing carryover of unused credits;
requiring report from Tax Commission and
Secretary of Energy and Environment.
FOURTH READING
YEAS: 31 RCS# 649
NAYS: 8 5/02/2018
EXC : 8 10:18 AM
N/V : 0
VAC : 1
YEAS: 31
Allen Daniels Paxton Shaw
Bass David Pederson Simpson
Bergstrom Dugger Pemberton Smalley
Bice Fields Pugh Standridge
Boggs Fry Quinn Sykes
Brecheen Jech Rader Thompson
Brown Leewright Rosino Yen
Dahm McCortney Sharp
NAYS: 8
Brooks Floyd Ikley-Freeman Murdock
Dossett Griffin Kidd Pittman
EXCUSED: 8
Matthews Schulz Silk Stanislawski
Newhouse Scott Sparks Treat
N/V : 0
