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Oklahoma House agrees to eliminate wind energy tax credit
Credit: Associated Press | April 16, 2015 | www.enidnews.com ~~
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Oklahoma’s wind energy industry could no longer claim a five-year exemption from ad valorem taxes under legislation advanced by the Oklahoma House.
House members voted 78-3 for the measure Thursday and sent it to the Senate for more work.
The measure, Senate Bill 498, prohibits wind electricity manufacturers from claiming a state tax exemption for equipment placed in commercial operation after 2016.
The state Tax Commission says the measure will reduce wind-power tax reimbursements by local governing bodies by about $50 million as projects complete their exemption period and no new projects are added.
House members approved an amendment to name the measure after the late Rep. David Dank of Oklahoma City, who died on April 10. Dank originally proposed elimination of the wind energy tax credit.
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