Oklahoma 2024 Regular Session

Oklahoma Senate Bill SB2006

Introduced

2/5/24

Refer

2/6/24

Failed

2/22/24

Caption

Zero-emission facilities; requiring facilities that generate electricity by zero-emissions and receive a tax credit to provide annual report to lessee landowners; providing contents of report. Effective date.

Impact

The legislation aims to bolster the adoption and use of renewable energy sources by providing a clear framework for tax credits associated with zero-emission electricity generation. By requiring annual reporting, the bill ensures accountability from the facilities while also providing landowners insight into the economic activities stemming from their leased land. If passed, this bill will modify Oklahoma tax code to potentially increase interest in the development of renewable energy projects, thereby supporting broader environmental goals and state efforts to reduce carbon emissions.

Summary

Senate Bill 2006 addresses the operation and regulation of zero-emission facilities in Oklahoma, specifically amending existing laws regarding tax credits for electricity generated by such facilities. The bill mandates that facilities which produce and sell electricity derived from zero-emission sources must provide an annual report to landowners with whom they have leasing agreements. This report should detail the entities to which they sell electricity as well as the pricing for that electricity. The intent of the bill is to enhance transparency and ensure that landowners are informed about the operations of these energy facilities.

Contention

The discussion surrounding SB2006 highlights potential points of contention regarding oversight and regulation of renewable energy sources. Critics may argue that the additional reporting requirements could impose unnecessary burdens on small-scale producers, potentially stifling their ability to operate efficiently. On the other hand, supporters of the bill may champion the added transparency measures as a means to protect landowners' rights and interests. The tension between fostering renewable energy development and imposing regulatory constraints is a central theme in the debates over this bill.

Companion Bills

No companion bills found.

Previously Filed As

OK SB581

Income tax credit; employer tax credit for purchase of employee disability insurance; providing amount of credit; prohibiting reduction of income tax to less than zero. Effective date.

OK SB151

Motor vehicles; requiring the Department of Public Safety promulgate rules and regulations for a vehicle emissions inspection program. Effective date.

OK HB2315

Revenue and taxation; DRIVE Act; tax rate; reporting; effective date.

OK SB1071

Income tax; providing exemption for new hydrogen manufacturing facilities; providing qualifications. Effective date.

OK SB1063

Income tax; providing credit for providing certain child care services. Effective date.

OK SB118

Industry regulation; creating General Regulatory Business Relief Office; requiring participant to compile report for Commission following the end of the program participation; providing for contents of report. Effective date.

OK SB209

Seed-Capital Revolving Fund; requiring certain data reporting to be included in binding commitment; providing certain exception. Effective date.

OK HB1955

Revenue and taxation; sales tax; groceries; definitions; zero rate; local sales tax; effective date; emergency.

OK SB208

OCAST; requiring commitment to provide certain data from certain entities receiving funds; providing for exception. Effective date.

OK SB586

Income tax credit; providing credit for investments in qualified clean-burning motor vehicle fuel property; requiring registration of vehicle in this state to qualify for credit. Effective date.

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