OK HB2817

Imposes an excise tax on electric power production from zero-emission facilities (wind and solar) with assets placed in service on or after January 1, 2017, at 2% of gross revenues for the first 36 months, increasing to 7% thereafter

Allows extension of the 36-month lower tax rate period by up to 24 months if power output drops more than 20% due to inoperable equipment requiring contract modification

Creates the "Classroom Teacher Compensation Revolving Fund" to receive all tax revenues, administered by the State Superintendent of Public Instruction for K-12 certified teacher compensation

Requires a legislative referendum for voter approval at the November 8, 2016 General Election before taking effect

Mandates zero-emission facilities maintain books and records on electric power produced and sold, subject to inspection by the Oklahoma Tax Commission