HB 2415 Summary

• Amends 68 O.S. 2011, Section 2357.22 to allow political subdivisions in Oklahoma to claim a refundable tax credit for investments in liquefied petroleum gas (LPG) motor vehicle fuel property starting January 1, 2015.

• Extends the existing clean-burning motor vehicle fuel tax credit program to include LPG equipment, which must meet federal and state safety standards and be installed by certified technicians.

• Provides refund procedures where political subdivisions must file claim forms by February 20th annually, and the Oklahoma Tax Commission must issue refunds or dispute claims within 60 days.

• Tax credit amounts range from 50% to 75% of qualified property costs depending on the type of equipment, with per-location caps of $2,500 for home refueling systems.

• Effective date: November 1, 2014.