Bill > SB99

This bill reauthorizes and modifies an existing income tax credit for contractors who construct energy-efficient residential properties in Oklahoma. The bill extends the tax credit for tax years 2025 and subsequent years, after previously expiring in 2016. Contractors can claim a tax credit of up to $4,000 for residential properties that are 40% more energy-efficient than the 2003 International Energy Conservation Code, or up to $2,000 for properties that are 20-39% more energy-efficient. Eligible expenditures include energy-efficient heating and cooling systems, insulation, exterior windows and doors, and special metal roofs. To qualify, the property must be 2,000 square feet or less, completed in the same calendar year as the tax credit claim, and certified by a Residential Energy Services Network Provider. The credit can only be claimed once per property, can be carried forward for up to four tax years if not fully used, and is transferable to subsequent owners. The bill updates various technical references and language, and will become effective on November 1, 2025.

Budget and Finance

http://www.oklegislature.gov/BillInfo.aspx?Bill=sb99&Session=2600