State budget agreement includes $50 million oil and gas tax rebate program



Oklahoma’s oil and gas industry came out a winner in the recent budget deal announced by legislative leaders.

The agreement included $50 million for a tax rebate program for methane-reduction equipment upgrades. The Oklahoma Tax Commission will administer a revolving fund and allow companies to claim up to 25% of their costs to meet the new greenhouse gas emissions rules created by the Biden administration.

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