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OK SB883
Bill
Status
2/1/2016
Primary Sponsor
Michael Mazzei
Click for details
AI Summary
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Reduces the zero-emission electricity production tax credit from $0.0050 per kilowatt-hour to $0.00375 per kilowatt-hour for electricity sold on or after July 1, 2016
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Applies to facilities placed in operation between January 1, 2007 and January 1, 2021 that generate electricity from wind, moving water, sun, or geothermal energy with capacity of 1 megawatt or greater
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Changes credit terminology from "electricity generated" to "electricity sold" throughout the statute
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Maintains existing provisions allowing taxpayers to receive direct refunds of 85% of credit value for credits earned after January 1, 2014, and allows nontaxable entities to transfer or sell credits
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Declared an emergency measure to take effect immediately upon passage and approval
Legislative Description
Income tax credits; modifying amount of credit for production and sale of electricity after specified date. Effective date.
Last Action
Remove as author Senator Mazzei; authored by Quinn
2/29/2016