Bill > HB1580

This bill creates a new income tax credit program for builders who construct energy-efficient residential properties in Oklahoma, effective January 1, 2026. Specifically, builders can receive a $2,000 tax credit for properties certified under the Energy Star Homes program, or a $4,000 credit for properties meeting the Department of Energy's Zero Energy Ready Homes program. These credits can only be claimed once per property in the tax year of completion, and if the credit amount exceeds the builder's income tax liability, the unused portion can be carried forward for up to four years. Additionally, the credits are fully transferable to subsequent parties. To qualify, the residential property must be newly constructed in Oklahoma and completed on or after January 1, 2026, with the primary contractor or builder being eligible to claim the credit. The bill aims to incentivize the construction of more energy-efficient homes by providing meaningful financial benefits to builders who meet specific energy efficiency standards.

Budget and Finance

http://www.oklegislature.gov/BillInfo.aspx?Bill=hb1580&Session=2600