State Senate Passes Wind Farm Incentive Cut
Measures that would modify tax incentives for future wind farms in Oklahoma have been approved by the state Senate.
The Senate passed two measures by Republican Sen. Mike Mazzei of Tulsa in separate 45-0 votes Tuesday and sent them to the House for consideration.
State budget officials have said generous tax incentives, credits and deductions granted over the years to stimulate business and industry in the state are one reason Oklahoma is facing a $611 million budget shortfall for the fiscal year that begins July 1.
One measure will change the tax exemption for wind manufacturing that requires specific job creation to qualify. The other reduces zero emissions tax credits over five years and sets a $6 million statewide cap.