OK HB2979

Amends Oklahoma tax credit provisions for coal production, zero-emission facilities, small wind turbines, historic rehabilitation, energy-efficient residences, and railroad reconstruction to eliminate transferability of tax credits earned on or after January 1, 2012.

Prohibits tax credits from being freely transferred to subsequent taxpayers; credits may only be used by the original taxpayer or carried forward against their own future tax liability.

Maintains existing carryforward periods (5-10 years depending on credit type) but prevents credits earned prior to January 1, 2012 from being affected by the new restrictions.

Grandfathers all tax credits earned or transferred before January 1, 2012, allowing those credits to remain transferable under previous law.

Declares an emergency effective date for immediate implementation upon passage and approval.