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Report calls Oklahoma's wind tax credit too generous, calls for trim

Report calls Oklahoma's wind tax credit too generous, calls for trim

Consultant says the roughly $1B in tax breaks for wind energy are too generous

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2016-11-05 ne-okincentives p1

Wind turbines create electricity at the Oklahoma Wind Energy Center north of Woodward. Tulsa World file

OKLAHOMA CITY — An Oklahoma tax credit that saves the wind industry millions of dollars yearly is overly generous and should be curtailed sooner than planned, according to a consultant’s report that was considered by a state committee Friday.

The consultant, Public Financial Management, made recommendations on a series of tax-incentive programs as required under a law enacted last year.

Oklahoma provides about $1 billion in business tax breaks yearly at a time when it has been facing huge shortfalls in revenue needed to provide core public services such as education, health and public safety.

Many lawmakers say it’s time to determine whether these business incentives are providing adequate return on investment and whether some should be cut.

Click here to link to the article on NewsOK. Some stories require an Oklahoman subscription to read.

Oklahoman business writer Paul Monies and the Tulsa World contributed to this story.


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