A bill targeting Oklahoma’s wind industry is being closely monitored this week by industry supporters as legislators face another deadline.
HB3150 is by Rep. Ryan Martinez, an Edmond Republican representing House District 39.
“It would be absolutely devastating,” said Mark Yates of the Advanced Power Alliance in Oklahoma.
The bill would eliminate a refunding of unused tax credits for wind generated electricity after Jan. 1 of 2021. Under the bill by Rep. Martinez, unused tax credits would become the property right of the state.
Under a previous law, unused tax credits after January 1, 2014 could be refunded by the Tax Commission at 85% of the face amount of the credits.
A law passed in 2019 requires the Tax Commission to prepare an annual report summarizing the amount of credits in question. The report is to be delivered to the Secretary of Energy and Environment, the governor, the Speaker of the House and the President Pro Tempore of the State Senate. However, the first such annual report won’t be made until early 2021.
Martinez’s bill has not received any votes in the House Energy and Natural Resources Committee and he has struck the title, giving him time to seek support from other legislators. But he still faces a Thursday deadline for a bill to be voted upon in the House of origin.