View Agency RSS Feed | Back To Newsroom
Legislation encouraging Oklahomans to use local alternative energy sources is one step closer to becoming law.
House Bill 1949, which is part of House Speaker Chris Benge's ongoing statewide energy initiative effort, extends an existing tax credit on the purchase of a qualified clean-burning motor vehicle for five years for compressed and liquefied natural gas and electric cars.
The credit is equal to 50 percent of the cost of a conversion of vehicles to operate on a qualified fuel, as well as those originally equipped to do so.
"This legislation will help position Oklahoma to be a key player in the national alternative energy movement by using local resources like natural gas," said Benge, R-Tulsa. "Oklahoma is one of the top energy-producing states and will continue to be as our sources of energy transition from foreign oil to domestic resources."
The legislation also includes a tax credit for businesses seeking to build infrastructure to fuel such vehicles, along with a $2,500 tax credit for consumers installing home-fueling stations. Speaker Benge said he hopes this new credit will help double the number of publicly available CNG fueling stations across the state.
"Infrastructure-building is a proper role of government as we seek to incentivize the alternative fuels industry in our state. This is no different than building a highway," said Benge. "The demand for CNG vehicles will not increase if the infrastructure is not in place to make it a convenient transition for Oklahomans. We must do all we can to reduce our dependence on dangerous foreign oil in order to secure our country?s energy and economic future. This is an incentive that will be good for Oklahomans and good for Americans as we strive for energy independence."
The conference committee report for HB 1949 passed the House overwhelmingly with a vote of 90-4 and now returns to the Senate for final consideration.