Seeking credit

Agriculture and Energy 2011

Related Photos

Wind energy developers hope a moratorium on wind energy tax credits is lifted this coming fiscal year. (Staff File Photo)

Discussion

March 26, 2011

Seeking credit

Producers of wind energy hoping moratorium ends

By Joe Malan, Staff Writer Enid News and Eagle The Enid News and Eagle Sat Mar 26, 2011, 02:43 PM CDT

— Last July, a one-year moratorium went into effect regarding a tax credit for wind energy production in the state of Oklahoma.

Wind energy developers are hoping the moratorium is lifted this coming fiscal year, which begins in July, said Curt Roggow, government liaison for The Wind Coalition and the city of Enid.

“At this point in session, a moratorium has not been extended,” Roggow said. “Hopefully that will be the case as we close out the session in a couple of months.”

The production tax credit in question gives wind energy companies a half-cent per kilowatt hour credit for energy produced.

Two companies, RES Americas and TradeWind Energy, have leased land in Garfield County to potentially construct wind turbines for generation of electrical energy.

Senate Bill 1267 last year had called for a two-year moratorium on the tax credit, stating the “provisions of this subsection shall cease to be operative on July 1, 2012. Beginning July 1, 2012, the credit authorized by this section may be claimed for any event, transaction, investment or expenditure or other act occurring on or after July 1, 2012, according to the provisions of this section.”

But the moratorium was revised in House Bill 3024 to state, “No credit otherwise authorized by the provisions of this section may be claimed for any event, transaction, investment, expenditure or other act occurring on or after July 1, 2010, for which the credit would otherwise be allowable until the provisions of this subsection shall cease to be operative on July 1, 2011. Beginning July 1, 2011, the credit authorized by this section may be claimed for any event, transaction, investment, expenditure or other act occurring on or after July 1, 2010, according to the provisions of this section. Any tax credits which accrue during the period of July 1, 2010, through June 30, 2011, may not be claimed for any period prior to the taxable year beginning January 1, 2012. No credits which accrue during the period of July 1, 2010, through June 30, 2011, may be used to file an amended tax return for any taxable year prior to the taxable year beginning January 1, 2012.”

A new piece of legislation, House Bill 1285, introduced by Rep. David Dank, calls for a task force to examine each tax credit, including the wind energy production credit in question, and determine whether each is functioning as it should.

The bill is being considered by the Senate.

Text Only

Agriculture and Energy 2011

Agriculture and Energy 2011
One of the attributes of living in Enid and Northwest Oklahoma is the abundant pride residents have in its people, land and businesses. The 2011 News & Eagle Progress edition highlights these areas and pays tribute to all of those who make our region shine 7 days a week, 365 days a year.

March 26, 2011 1 Photo
Seeking credit
Wind energy developers are hoping the moratorium is lifted this coming fiscal year, which begins in July.

March 26, 2011 1 Photo
Energy supply that blows on trees
In 2009, Autry installed a wind turbine on its campus not only to provide wind energy to the facility but to offer an educational tool for students looking to go into the wind energy field or who just want to learn more about wind energy.

March 26, 2011 1 Photo
‘It was lightning in a bottle’
“Our No. 1 asset is our employees." — Joe Griffin, president and chief executive officer of Hiland Partners

March 26, 2011 1 Photo
Pressure on Hiland, others to fill shoes of Continental Resources’
While announcing Continental Resources is moving to Oklahoma City last week, Hamm told the News & Eagle he sees some of his other companies in the same position for growth Continental witnessed about five years ago.

March 26, 2011 1 Photo
This is not a drill
Local city officials are bracing for the challenges the company’s move poses to economic development efforts.

March 26, 2011 4 Photos
An endless supply of energy ...
Ward Petroleum is drilling horizontal wells and using fracturing technology to get further production from wells in Oklahoma.

March 26, 2011 3 Photos
President of ONG has a past in Enid
“I was working for our company for just over a year, I began in 1986 and in the summer of 1987 they asked me to move to Enid for a while and work in our district office out there.” — Greg Phillips, Oklahoma Natural Gas president

March 26, 2011 1 Photo
Home of the brave, free ... market
With the public crying for cheaper gasoline, Terry said whatever can be done to increase production should be considered.

March 26, 2011 1 Photo
Trickle-down theory has translated into years of business for Wako Inc.
The company began in Wakita, moving to Enid 25 years ago. It celebrates 50 years in November. The name takes the first three letters from its hometown and the O from Oklahoma, Bland said.

March 26, 2011 3 Photos
More Agriculture and Energy 2011 Headlines

Agriculture and Energy 2011

Search Results

Related Photos

Discussion

Seeking credit

Producers of wind energy hoping moratorium ends

Site Map

Contact Us