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Wind energy tax credit bill passes another hurdle 

Credit:  April 8, 2015 - By Nathan Thompson nthompson@examiner-enterprise.com examiner-enterprise.com ~~

Osage County Wind Farm

Osage County Wind Farm

A bill by Rep. Earl Sears, R-Bartlesville, that would reduce the amount of tax credits the wind energy industry receives and eliminate the credits in 10 years has passed the Oklahoma State Senate Committee on Finance.

In a 10-2 vote, the committee passed House Bill 1554 on Tuesday afternoon. Sen. John Ford, R-Bartlesville, who sits on the Finance Committee, voted in favor of the passage. The two dissenting votes were by Sen. John Sparks, D-Norman and Sen. Charles Wyrick, D-Fairland.

The bill is co-authored by Rep. John Bennett, R-Sallisaw, and Sen. Mike Mazzei, R-Tulsa.

According to Sears, the bill reduces the wind energy tax credit to one-fifth of a cent per kilowatt hour for new wind power facilities starting in 2016 and would end the credit in 2025. The current structure of the tax incentive is that the industry receives a half of a cent per kilowatt hour.

With the Oklahoma state budget facing a $611 million shortfall, Sears said it is time to have these tough discussions about which tax credits are working and which need to potentially end.

The bill now heads to the full Oklahoma Senate. If passed in the Senate, the bill would go to Gov. Mary Fallin’s desk.

Source:  April 8, 2015 - By Nathan Thompson nthompson@examiner-enterprise.com examiner-enterprise.com

This article is the work of the source indicated. Any opinions expressed in it are not necessarily those of National Wind Watch.

The copyright of this article resides with the author or publisher indicated. As part of its noncommercial educational effort to present the environmental, social, scientific, and economic issues of large-scale wind power development to a global audience seeking such information, National Wind Watch endeavors to observe “fair use” as provided for in section 107 of U.S. Copyright Law and similar “fair dealing” provisions of the copyright laws of other nations. Send requests to excerpt, general inquiries, and comments via e-mail.

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