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OK SB1137
Bill
Status
2/1/2016
Primary Sponsor
Josh Brecheen
Click for details
AI Summary
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Amends multiple Oklahoma tax credit programs to require reauthorization by the Oklahoma Legislature after evaluation by the Incentive Evaluation Commission before credits can be claimed for activities occurring on or after January 1, 2020
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Affected tax credits include: manufacturing investment/job creation credits, historic rehabilitation credits, biomedical and cancer research donation credits, energy efficient home construction credits, railroad reconstruction credits, education scholarship credits, and affordable housing credits
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Beginning January 1, 2017, prohibits manufacturing tax credits for investment or job creation in wind-powered electric generation (NAICS No. 221119)
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Requires minimum investment thresholds for credits: $50,000 for standard manufacturing property credits, $40,000,000 within 3 years for enhanced 2% credits
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Effective date is November 1, 2016
Legislative Description
Tax credits; requiring reauthorization of certain credits after review by Incentive Evaluation Commission. Effective date.
Last Action
coauthored by Coody (Jeff) (principal House author)
3/8/2016