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OK SB612
Bill
Status
2/4/2013
Primary Sponsor
Rick Brinkley
Click for details
AI Summary
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Amends 68 O.S. 2011, Section 2357.22 relating to income tax credits for clean-burning motor vehicle fuel property and electric motor vehicle property.
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Extends the deadline for claiming the income tax credit from January 1, 2015 to January 1, 2020 for qualifying clean-burning motor vehicle fuel and electric motor vehicle investments.
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Allows taxpayers to carry forward unused credits against income tax liability for up to five years if the credit exceeds taxes owed.
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Applies to investments in qualified clean-burning motor vehicle fuel property placed in service after December 31, 1990, and electric motor vehicle property placed in service after December 31, 1995 and before July 1, 2010.
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Effective date: November 1, 2013.
Legislative Description
Income tax; extending time period during which credits may be claimed for certain expenditure. Effective date.
Revenue and Taxation
Last Action
Second Reading referred to Finance
2/5/2013