HB 2758 - Horse Slaughter Facility Income Tax Credit

• Authorizes a 50% income tax credit against Oklahoma income tax for the cost of constructing, refurbishing, or converting a qualified horse slaughter facility on or after January 1, 2012.

• Defines a "qualified horse slaughter facility" as real property and improvements designed for commercial slaughter of horses or equines for profit, constructed or converted after January 1, 2012 within Oklahoma.

• Prohibits the credit from reducing a taxpayer's total tax liability below zero, and allows unused credits to carry forward for up to five subsequent taxable years.

• Applies to taxable years beginning after December 31, 2011.

• Effective date: January 1, 2012.