Wind Energy Tax Credit To End In Oklahoma

Oklahoma Gov. Mary Fallin hailed the state as an energy leader Monday after signing into a law a bill that will end a state tax credit for electricity generated from wind.

The measure changes the date that zero-emission facilities must be in operation to qualify for the credit to July 1, instead of by 2021. It’s one of several revenue proposals under consideration as lawmakers struggle to close an estimated $868 million budget shortfall.

Fallin said the credit was key to growth of the wind energy in Oklahoma. She thanked the industry for its ambition and willingness to work with the state through budget problems.

But fiscal analysts say closing the credit will have no short-term impact on state tax collections.