Oklahoma lawmakers have struggled for months to agree on a formula to patch a nearly $900 million budget hole and sign off on a plan that funds state agencies. To help pay for the budget plan, lawmakers are considering ways to squeeze more from taxes on oil and gas production, an option that has divided [...]
Gov. Mary Fallin on Monday signed legislation bringing to an early end the last major tax incentive for the wind industry.
A bill that brings an early end to the last major tax incentive for the wind industry has cleared its last legislative hurdle and now awaits Gov. Mary Fallin’s signature. Oklahoma governor to decide fate of wind energy tax credits Leadership in both chambers have praised the bill, citing it as one way the state [...]
Gov. Mary Fallin on Monday proposed a new 0.5 cent per kilowatt hour tax on wind-generated electricity. The new wind production tax is part of Fallin’s 2018 executive budget, a document written to guide the Legislature as it struggles to fill an $870 million revenue shortfall and write bills appropriating money to hundreds of state [...]
A political panel tasked with evaluating state tax incentives voted Tuesday to approve a report that recommended curbing a tax credit used by the wind industry.
An organization opposed to wind power incentives says payouts could total $5.2 billion by 2030 if Oklahoma’s zero-emissions tax credit continues, “an amount the wind industry said is highly inflated,” The Oklahoman’s Paul Monies reports: WindWaste, a group founded by Claremore businessman Frank Robson, said its latest estimates of future wind farm developments in Oklahoma [...]
Oklahoma remained No. 4 in the U.S. in installed wind power capacity during the second quarter of 2016, but a national industry group expects the state to move up the ranks by the end of the year. No new wind farms have been completed in recent months, according to a report from the American Wind [...]
The deadline to fund state government is rapidly approaching, and legislators are struggling to bridge a $1.3 billion budget gap. One idea is to end a tax rebate for unprofitable oil and gas wells, but small oil and gas producers say their safety net shouldn’t be used to plug the state’s budget hole.
The oil boom minted millionaire executives and transformed Oklahoma City into a corporate energy hub, but industry tax breaks and funding cuts kept much of the prosperity from reaching public services, a new Reuters investigation shows.
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