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53	53	STATE OF OKLAHOMA
54	54
55	55	1st Session of the 60th Legislature (2025)
56	56
57	57	SENATE BILL 99 By: Boren
58	58
59	59
60	60
61	61
62	62
63	63	AS INTRODUCED
64	64
65	65	An Act relating to income tax credit; amending 68
66	66	O.S. 2021, Section 2357.46, which relates to tax
67	67	credit for construction of energy effici ent property;
68	68	modifying tax year for which credit can be claimed;
69	69	requiring property to be completed in the year in
70	70	which the credit is claimed; updating statutory
71	71	language; updating statutory reference; and providing
72	72	an effective date.
73	73
74	74
75	75
76	76
77	77	BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
78	78	SECTION 1. AMENDATORY 68 O.S. 2021, Section 2357.46, is
79	79	amended to read as follows:
80	80	Section 2357.46. A. Except as otherwise provided by subsection
81	81	G of this section, for the time period beginning on or after January
82	82	1, 2006, and ending on July 1, 2016 tax years 2006 through 2016 and
83	83	tax year 2025 and subsequent tax years , there shall be allowed a
84	84	credit against the tax imposed by Section 2355 of this title for
85	85	eligible expenditures i ncurred by a contractor in the construction
86	86	of energy efficient residential p roperty of two thousand (2,000)
87	87	square feet or less. The amount of the credit shall be based upon
88	88	the following:
89	89
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140	140	1. For any eligible energy efficient residential property
141	141	constructed and certified as forty percent (40%) or more above the
142	142	2003 International Energy Conservation Code 2003 and any supplement
143	143	in effect at the time of completion, the amount of the credit shall
144	144	be equal to the eligible expenses, not to exceed Four Thous and
145	145	Dollars ($4,000.00) for the taxpayer who is the contractor; and
146	146	2. For any eligible energy efficient residential property
147	147	constructed and certified as between twenty percent (20%) and
148	148	thirty-nine percent (39%) above the 2003 International Energy
149	149	Conservation Code 2003 and any supplement in effect at the time of
150	150	completion, the credit shall be equal to the eligible expenditures,
151	151	not to exceed Two Thousand Dollars ($2,000.00) for the taxpayer who
152	152	is the contractor.
153	153	B. As used in this section:
154	154	1. “Eligible expenditure” means any:
155	155	a. energy efficient heating or cooling system,
156	156	b. insulation material or system which is specifically
157	157	and primarily designed to reduce the heat gain or loss
158	158	of a residential property when installed in or on such
159	159	property,
160	160	c. exterior windows, including skylights,
161	161	d. exterior doors, and
162	162	e. any metal roof installed on a residential property,
163	163	but only if such roof has appropriate pigmented
164	164
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215	215	coatings which are specifically and primarily designed
216	216	to reduce the heat gain of such dwellin g unit and
217	217	which meet Energy Star program requirements;
218	218	2. “Contractor” means the taxpayer who constructed the
219	219	residential property or manufactured home, or if more than one
220	220	taxpayer qualifies as the contractor, the primary contractor; and
221	221	3. “Eligible energy efficient residential property ” means a
222	222	newly constructed residential property or manufactured home property
223	223	which is located in the State of Oklahoma this state and
224	224	substantially complete after December 31, 2005 completed in the
225	225	calendar year corres ponding to the tax year in which the credit is
226	226	claimed, and which is two thou sand (2,000) square feet or less:
227	227	a. for the credit provided pursuant to paragraph 1 of
228	228	subsection A of this section, which is certified by an
229	229	accredited Residential Energy Servic es Network
230	230	Provider using the Home Energy Rating System to have:
231	231	(1) a level of annual heating and cooling energy
232	232	consumption which is at least forty percent (40%)
233	233	below the annual level of heating and cooling
234	234	energy consumption of a comparable residential
235	235	property constructed in accordance with the
236	236	standards of Chapter 4 of the 20 03 International
237	237	Energy Conservation Code, as such code is in
238	238	effect on November 1, 2005,
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290	290	(2) heating and cooling equipment efficiencies which
291	291	correspond to the minimum allowed un der the
292	292	regulations established by the United States
293	293	Department of Energy pursuant to the National
294	294	Appliance Energy Conservation Act of 1987 and in
295	295	effect at the time of construction of the
296	296	property, and
297	297	(3) building envelope component improvements which
298	298	account for at least one -fifth (1/5) of the
299	299	reduced annual heating and cooling energy
300	300	consumption levels, and
301	301	b. for the credit provided pursuant to paragraph 2 of
302	302	subsection A of this section, which is certified by an
303	303	accredited Residential Energy Services Network
304	304	Provider using the Home Energy Rating System to have:
305	305	(1) a level of annual heating and cooling energy
306	306	consumption which is between twenty percent (20%)
307	307	and thirty-nine percent (39%) below the annual
308	308	level of heating and cooling energy consumption
309	309	of a comparable residential property constructed
310	310	in accordance with the stan dards of Chapter 4 of
311	311	the 2003 International Energy Conservation Code,
312	312	as such code is in effect on November 1, 2005,
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364	364	(2) heating and cooling equipment efficiencies which
365	365	correspond to the minimum allowed under the
366	366	regulations established by the United States
367	367	Department of Energy pursuant to the National
368	368	Appliance Energy Conservation Act of 1987 and in
369	369	effect at the time of construction of the
370	370	property, and
371	371	(3) building envelope co mponent improvements which
372	372	account for at least one -third (1/3) of the
373	373	reduced annual heating and cooling energy
374	374	consumption levels.
375	375	C. The credit provided for in subsection A of this section may
376	376	only be claimed once for the contractor of any eligible res idential
377	377	energy efficient property during the taxable year when the property
378	378	is substantially complete.
379	379	D. If the credit allowed pursuant to this section exceeds the
380	380	amount of income taxes due or if there are no state income taxes due
381	381	on the income of the taxpayer, the amount of credit allowed but not
382	382	used in any taxable year may be carried forward as a credit against
383	383	subsequent income tax liability for a period not exceeding four (4)
384	384	tax years following the qualified expenditures.
385	385	E. For credits earned o n or after July 1, 2006, the credits
386	386	authorized by this section shall be freely transferable to
387	387	subsequent transferees.
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439	439	F. The Oklahoma Tax Commission shall promulgate rules necessary
440	440	to implement this act this section.
441	441	G. No credit otherwise authorized by the provisions of this
442	442	section may be claimed for any event, transaction, investment,
443	443	expenditure or other act occurring on or after July 1, 2010 , for
444	444	which the credit would otherwise be allowable. The provisions of
445	445	this subsection shall cease to be op erative on July 1, 2012.
446	446	Beginning July 1, 2012, the credit authorized by this section may be
447	447	claimed for any event, transaction, investment, expenditure or other
448	448	act occurring on or after July 1, 2012, according to the provisions
449	449	of this section.
450	450	H. No credit otherwise authorized by the provisions of this
451	451	section may be claimed for any event, transaction, investment,
452	452	expenditure or other act occurring on or after July 1, 2016, for
453	453	which the credit would otherwise be allowable.
454	454	SECTION 2. This act shall become effective November 1, 2025.
455	455
456	456	60-1-1095 QD 12/20/2024 6:50:20 PM

Oklahoma 2025 Regular Session

Oklahoma Senate Bill SB99 Compare Versions