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OK HB1725
Bill
Status
2/7/2011
Primary Sponsor
William Fourkiller
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AI Summary
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Extends the photovoltaic (solar) and wind energy tax credit for residential properties, allowing a 40% credit on up to $25,000 in qualified renewable energy system expenditures for taxable years beginning after December 31, 2011.
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Extends the photovoltaic and wind energy tax credit for non-residential properties, allowing a 30% credit on up to $150,000 in qualified renewable energy system expenditures for taxable years beginning after December 31, 2011.
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Allows unused tax credits to be carried forward for up to five years against future income tax liability.
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Requires renewable energy equipment to be certified by recognized national organizations (SRCC, AWEA, OK-SEIA, or other approved agencies) and to carry a minimum three-year warranty.
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Becomes effective January 1, 2012.
Legislative Description
Revenue and taxation; renewing tax credit relating to certain energy systems; effective date.
Revenue and Taxation
Last Action
Second Reading referred to Appropriations and Budget
2/8/2011