SB 1477 Summary

• Amends Oklahoma tax credit provisions to eliminate the ability to transfer multiple tax credits after January 1, 2013, affecting credits for coal purchases, electricity generation from zero-emission facilities, small wind turbine manufacturing, historic structure rehabilitation, energy efficient construction, and railroad reconstruction.

• Reinstates the ability to claim these credits for events occurring on or after July 1, 2012, which had previously been suspended during the July 1, 2010 through June 30, 2012 period.

• Modifies transferability language in Sections 2357.11, 2357.32A, 2357.32B, 2357.41, 2357.46, and 2357.104 to end credit transfer options on January 1, 2013.

• Maintains existing credit calculations and amounts while restricting secondary market transfers of unused credits after the January 1, 2013 deadline.

• Effective date: January 1, 2013.