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Senate chairman urges elimination of wind tax credit  

Credit:  AP | www.koco.com ~~

A state senator from Tulsa says a tax credit for the wind industry that is costing the state more than $100 million annually poses a threat to the state budget and should be ended.

Outgoing Senate Finance Chairman Mike Mazzei made the comments Thursday during a meeting of the Incentive Evaluation Commission. The panel is exploring the costs and benefits of various tax credits and making suggestions to lawmakers on how they should be changed.

An independent consulting group hired to analyze various tax incentives also urged the Legislature to impose caps on the credit or accelerate the program’s end.

The state pays companies based on how much wind energy they produce. Payments have skyrocketed from $3.7 million in 2010 to more than $113 million in 2014.

Source:  AP | www.koco.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 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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