OK SB467

Modifies tax credit amounts for electricity produced from zero-emission facilities (wind, solar, geothermal, moving water) by changing the rate to $0.0050 per kilowatt-hour for facilities placed in operation between January 1, 2007 and January 1, 2016, and $0.0025 per kilowatt-hour for facilities placed in operation on or after January 1, 2016.

Reduces the credit claim period from ten years to five years for facilities placed in operation on or after January 1, 2016.

Allows the Oklahoma Tax Commission to refund 85% of unused credits generated on or after January 1, 2014, directly to taxpayers at their election, including pass-through entities.

Permits nontaxable entities (state agencies and political subdivisions) to establish transferable tax credits that can be sold or transferred to taxable entities with income tax liability.

Becomes effective November 1, 2015.