OK SB1443

Amends income tax credit provisions for zero-emission electricity generation facilities in Oklahoma by adding a new subsection requiring reauthorization of wind power credits after January 1, 2018.

Wind power generation credits are prohibited on or after January 1, 2018 unless the Oklahoma Legislature reauthorizes the section following evaluation by the Incentive Evaluation Commission under Section 7004 of Title 62.

Maintains existing credit rates per kilowatt-hour for electricity from renewable resources (wind, moving water, sun, geothermal energy) for facilities placed in operation between 2003 and 2021.

Preserves existing provisions for credit carryforward, refunds at 85% of face value for credits generated after January 1, 2014, and transferability of credits for prior years.

Effective date: November 1, 2016.