Oklahoma SB239 modifies income tax credits for zero-emission facilities, limiting the credit amount and carry-forward period.
Oklahoma SB239 amends the state's income tax code to adjust the credit for electricity generated by zero-emission facilities. The bill sets specific credit rates for different periods and limits the total annual credit to $500,000. It also restricts the carry-forward period of unused credits to ten years and mandates refunds for unused credits after this period. The changes apply to tax years beginning on or after January 1, 2019, and the act becomes effective November 1, 2025.
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