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OK SB2168
Bill
Status
2/1/2010
Primary Sponsor
Cliff Branan
Click for details
AI Summary
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Modifies 68 O.S. 2001, Section 2357.22 to adjust income tax credits for qualified clean-burning motor vehicle fuel property and qualified electric motor vehicle property.
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Increases tax credit from 50% to 75% of costs for clean-burning motor vehicle fuel property that is part of a fleet used for commercial purposes, effective January 1, 2011.
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Defines "motor vehicle" as vehicles originally designed by manufacturer to operate lawfully and principally on streets and highways, and "fleet" as 20 or more vehicles.
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Allows tax credits to be carried forward against subsequent income tax liability for up to five years if credit exceeds taxes owed in the current year.
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Effective date January 1, 2011.
Legislative Description
Revenue and taxation; modifying amount of certain income tax credit after certain date for property meeting specified criteria. Effective date.
Revenue and Taxation
Last Action
Second Reading referred to Finance
2/2/2010