OK
Oklahoma Senate Bill SB1071

Oklahoma 2023 Regular Session

Oklahoma Senate Bill SB1071 Compare Versions

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3-ENGR. H. A. to ENGR. S. B. NO. 1071 Page 1 1
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28-ENGROSSED HOUSE AMENDME NT
29- TO
30-ENGROSSED SENATE BILL NO . 1071 By: Montgomery of the Senate
29+HOUSE OF REPRESENTATIVES - FLOOR VERSION
30+
31+STATE OF OKLAHOMA
32+
33+1st Session of the 59th Legislature (2023)
34+
35+COMMITTEE SUBSTITUTE
36+FOR ENGROSSED
37+SENATE BILL NO. 1071 By: Montgomery of the Senate
3138
3239 and
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34- Wallace of the House
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38-[ income tax - exemption - eligibility - application
39-- codification - effective date ]
41+ Wallace and Boles of the
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44-AUTHOR: Add the following House Coauthor: Boles
47+COMMITTEE SUBSTITUTE
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46-AMENDMENT NO. 1. Strike the stricken title, enacting clause, and
47-entire bill and insert:
48-
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50-"[ income tax – exemption – hydrogen manufacturer –
49+[ income tax – exemption – hydrogen manufacturer –
5150 effective date ]
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5655 BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA :
5756 SECTION 1. NEW LAW A new secti on of law to be codified
5857 in the Oklahoma Statutes as Sec tion 2357.91 of Title 68, unless
5958 there is created a duplication in numbering, reads as follows :
6059 A. For tax years 2024 through 2034, the first Ten Million
6160 Dollars ($10,000,000.00) of revenues generated from the operation of
6261 a newly constructed establishment in this state placed in service
6362 after the effective date of this act, primarily engaged in the
6463 manufacture of hydrogen classified in the NAICS Manual under U.S.
64+Industry No. 325120, shall be exempt from the tax imposed by Section
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66-ENGR. H. A. to ENGR. S. B. NO. 1071 Page 2 1
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91-Industry No. 325120, shall be exempt from the tax imposed by Section
9292 2355 of Title 68 of the Oklahoma Statutes for the first five (5)
9393 years of operations.
94-B. To qualify for the exemption provided in subsection A of
95-this section, an establishment shall pay wages or salaries at a wage
96-that equals or exceeds the average wage requirements in the Oklahoma
97-Quality Jobs Program Act, Section 3601 et seq. of Title 68 of the
98-Oklahoma Statutes.
99-C. Eligibility for an establishment pursuant to this section
100-for each applicable tax year shall be determined by the Oklahoma Tax
101-Commission, upon the annual filing of an application provided by the
102-Commission stating that th e establishment qualifies and containing
103-information as may be required by the Commission.
104-SECTION 2. This act shall become effective November 1, 2023."
105-Passed the House of Representatives the 27th day of April, 2023.
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111-Presiding Officer of the House of
112- Representatives
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115-Passed the Senate the ____ day of _______ ___, 2023.
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121-Presiding Officer of the Senate
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123-ENGR. S. B. NO. 1071 Page 1 1
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148-ENGROSSED SENATE
149-BILL NO. 1071 By: Montgomery of the Senate
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153- Wallace of the House
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158-[ income tax - exemption - eligibility - application
159-- codification - effective date ]
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164-BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA :
165-SECTION 3. NEW LAW A new section of law to be codified
166-in the Oklahoma Statutes as Sec tion 2357.91 of Title 68, unless
167-there is created a duplication in numb ering, reads as follows :
168-A. For tax years 2024 through 2034, revenues generated from the
169-operation of a newly constructed establishment in this state placed
170-in service after the effective date of this act, primarily engaged
171-in the manufacture of hydrogen classified in the NAICS Manual under
172-U.S. Industry No. 325120, shall be exempt from the tax imposed by
173-Section 2355 of Title 68 of the Oklahoma Statutes for the first five
174-(5) years of operations.
17594 B. To qualify for the exemption provided in subsection A of
17695 this section, an esta blishment shall meet the following
17796 requirements:
17897 1. The natural gas used in the production of the hydrogen shall
17998 be produced in this state; and
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20699 2. Payment of wages or salaries at a wage that equals or
207100 exceeds the average wage requirements in the Oklahoma Quality Jobs
208101 Program Act, Section 3601 et seq. of Title 68 of the Oklahoma
209102 Statutes.
210103 C. Eligibility for an establishment pursuant to this section
211-for each tax year shall be determined by the Oklahoma Tax
104+for each applicable tax year shall be determined by the Oklahoma Tax
212105 Commission, upon the annual filing of an application provided by the
213106 Commission stating that th e establishment qualifies and containing
214107 information as may be required by Commission.
215-SECTION 4. This act shall become effective November 1, 2023.
216-Passed the Senate the 20th day of March, 2023.
108+SECTION 2. This act shall become effective November 1, 2023.
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220- Presiding Officer of the Senate
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223-Passed the House of Representatives the ____ day of __________,
224-2023.
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228- Presiding Officer of the House
229- of Representatives
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110+COMMITTEE REPORT BY: COMMITTEE ON APPROPRIATIONS AND BUDGET, dated
111+04/19/2023 - DO PASS, As Amended and Coauthored.