Oklahoma Senate approves earlier sunset of wind tax credit

OKLAHOMA CITY - Senate President Pro Tempore Mike Schulz released the following statement after the Senate approved HB 2298, which moves up the sunset date of the zero-emissions tax credit to July 1, 2017.

“The zero-emissions tax credit did what it was supposed to do—help the wind industry get off the ground in Oklahoma. Our state ranks third in the nation in terms of wind power and will likely remain among the leaders in wind power for the foreseeable future. The state is facing extraordinary budget challenges, and we can no longer afford the zero-emissions tax credit. This measure provides certainty to the wind industry and stability in the long-term for the state budget. I appreciate my Senate colleagues for overwhelmingly approving this measure.”

HB 2298, authored by Schulz, R-Altus, and House Speaker Charles McCall, R-Atoka, passed the Senate by a vote of 40-3. The bill now goes to the governor’s desk for consideration.