WindWaste applauds members of the Oklahoma House of Representatives who voted in favor of Senate Bill 888, which begins reformation of the egregious wind corporate-giveaway program by eliminating refundability of the Zero Emissions Tax Credit. It saves Oklahoma taxpayers a significant portion of the estimated $930 million in corporate handouts over the next 10 years.
Despite reports it ends the tax incentive, it’s important to remember that SB 888 allows Wind companies to stockpile the credits for up to 20 years from the date they are earned and continue using them to eliminate or reduce their income tax obligation to the State of Oklahoma. The bill only eliminates taxpayer-funded cash payments for Zero Emission Tax Credits. Other subsidy programs for Big Wind, including ad valorem and sales tax exemptions, remain in place, and the industry is still not required to pay a wind production tax.
The measure will now go to the Senate. Please contact your local senator now to let them know you support this common-sense approach to curb taxpayer-funded wind payouts.
Eliminating subsidy programs for this highly profitable industry just makes sense!