Bill
Bill > HB2542
OK HB2542
OK HB2542Revenue and taxation; income tax credit; qualified clean burning fuels; effective date; emergency.
summary
Introduced
02/06/2023
02/06/2023
In Committee
04/10/2023
04/10/2023
Crossed Over
03/21/2023
03/21/2023
Passed
04/24/2023
04/24/2023
Dead
Signed/Enacted/Adopted
05/01/2023
05/01/2023
Introduced Session
2023 Regular Session
Bill Summary
An Act relating to revenue and taxation; amending 68 O.S. 2021, Section 2357.22, as amended by Section 1, Chapter 404, O.S.L. 2022 (68 O.S. Supp. 2022, Section 2357.22) which relates to income tax credits for certain qualified fuel burning properties; modifying definitions; modifying eligible vehicle types for purposes of tax credit; deleting reference to certain tax year; providing an effective date; and declaring an emergency. SUBJECT: Revenue and taxation
AI Summary
This bill amends the existing law on income tax credits for qualified clean-burning fuels. It modifies the definitions of eligible vehicles, including adding hydrogen fuel cell vehicles, and deletes a reference to a specific tax year. The bill also adjusts the annual limits on the total amount of credits that can be claimed, separating the limits for different types of clean-burning fuel property. Additionally, it establishes an effective date of July 1, 2023 and declares an emergency.
Committee Categories
Agriculture and Natural Resources, Budget and Finance, Transportation and Infrastructure
Sponsors (3)
Last Action
Approved by Governor 04/28/2023 (on 05/01/2023)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
Loading...