OK SB831

Creates the "Nuclear Energy Incentive Act" establishing a regulatory framework for electric utilities to apply for Commission approval to construct nuclear power plants in Oklahoma

Allows utilities to recover all costs associated with siting, licensing, design, construction, and operation of nuclear plants through periodic rate adjustments, including preconstruction costs accruing carrying charges

Provides an enhanced rate of return of 200 basis points above the utility's approved rate of return for 12-25 years as determined by the Corporation Commission to encourage nuclear investment

Establishes a 9-member task force to recommend an income tax credit for nuclear power plant developers by December 1, 2010, with credit at least equal to existing renewable energy tax credits

Effective date is November 1, 2009; repeals 11 O.S. 2001, Sections 24-105.1 and 24-117 and amends Section 24-105