The Oklahoma House of Representatives on Monday voted 89-0 to approve proposed legislation that would significantly reduce the amount of tax incentives paid to the wind industry.
House Bill 1554 was authored by Rep. Earl Sears, R-Bartlesville, who has pledged to curtail tax credits and incentives whose cost has ballooned along with Oklahoma’s booming wind industry.
From the Associated Press:
Sears said the bill in its current form would reduce by about 70 percent the amount of tax credits wind producers receive, although he acknowledged discussions with the industry are ongoing on the final amount. The credits are paid based on the amount of electricity produced by the facilities.
HB 1554 now heads to the full Senate for consideration.
Copyright 2021 StateImpact Oklahoma. To see more, visit StateImpact Oklahoma.