Oklahoma Gov. Mary Fallin on Monday signed legislation that reduces the time frame in which wind power projects can qualify for the state’s clean energy tax credit.
Rep. Charles McCall, R-Atoka, introduced the bill in early February. The legislation changes the date wind facilities must be placed in service to qualify for the tax credit from Jan. 1, 2021, to July 1, 2017, according to the bill text.
The Oklahoma House of Representatives in early March passed the bill 74-24, and the Senate last week passed it 40-3.
In an April 17 statement, Fallin said she was grateful to the industry for the successes it has achieved with the tax incentive, pointing to the nearly 7,000 MW of installed wind power capacity, which currently ranks the state third in the country.
Fallin also said she was grateful to the industry for its willingness to work with the state to address its “challenging budgetary circumstances.”
Fallin had originally proposed ending the tax credit for wind in her 2018 Executive Budget.
Lead image credit: U.S. Department of Agriculture | Flickr