Energy Efficient Residential Construction Tax Credit (Personal) (Oklahoma)
From Open Energy Information
Last modified on June 17, 2010.
Financial Incentive Program
| Place | Oklahoma |
|---|---|
| Name | Energy Efficient Residential Construction Tax Credit (Personal) |
| Incentive Type | Personal Tax Credit |
| Applicable Sector | Residential, Construction |
| Eligible Technologies | Furnaces, Heat pumps, Air conditioners, Caulking/Weather-stripping, Duct/Air sealing, Building Insulation, Windows, Doors, Roofs, Comprehensive Measures/Whole Building |
| Active Incentive | Yes |
| Date added to DSIRE | 2005-07-29 |
| Last Updated at DSIRE | 2010-06-14 |
| Energy Category | Energy Efficiency Incentive Programs |
| Amount | Amount of eligible expenditures |
| Carryover Provisions | Can carry over unused credit for up to four years |
| Equipment Requirements | Property must be less than 2,000 square feet. |
| Start Date | 11/01/2005 |
| Maximum Incentive | 4,000 |
| Program Administrator | Oklahoma Tax Commission |
| References | DSIRE[1] |
Incentive Authority
| Authority 1 | 68 O.S. § 2357.46 |
|---|---|
| Authority Link | http://www.oscn.net/applications/oscn/DeliverDocument.asp?CiteID=443877 |
| Date Effective | 11/01/2005 |
| Date Enacted | 06/08/2005 (amended 2006) |
Incentive Contact
| Contact Name | Carolyn Sullivan |
|---|---|
| Department | Oklahoma Department of Commerce |
| Division | State Energy Office |
| Address | 900 North Stiles |
| Address 2 | P.O. Box 26980 |
| Place | Oklahoma City, Oklahoma |
| Zip/Postal Code | 73126-0980 |
| Phone | (405) 815-5347 |
| carolyn_sullivan@okcommerce.gov | |
| Website | http://www.okcommerce.gov/energy |
| Contact Name | Information Specialist - OTC |
|---|---|
| Department | Oklahoma Tax Commission |
| Address | Post Office Box 26800 |
| Place | Oklahoma City, Oklahoma |
| Zip/Postal Code | 73126-0800 |
| Phone | (405) 521-3160 |
| helpmaster@mailhost.oktax.state.ok.us | |
| Website | http://www.oktax.state.ok.us |
Senate Bill 1267, signed in June 2010 established a two-year moratorium on many tax credits previously available in Oklahoma, including the tax credit described on this page. This tax credit is unavailable for any project completed on or after July 1, 2010 and before July 1, 2012.
Oklahoma allows a contractor who is the primary builder of an energy efficient home or manufactured home substantially completed after December 31, 2005 to claim an income tax credit beginning in tax year 2006. The home must be under 2,000 square feet. Improvements eligible for the credit include energy efficient heating and cooling systems, windows, doors, roofs and insulation to minimize heat loss and gain.
The contractor can take a tax credit for the amount of the eligible expenditures, not to exceed $2,000 for a home that is between 20% and 39% above the International Energy Conservation Code 2003 or $4,000 for a home that is 40% or above of the Code. In addition, the heating and cooling efficiencies must meet the minimum requirements established by the National Appliance Energy Conservation Act of 1987 and building envelope improvements must account for a certain percentage of the reduced annual heating and cooling energy consumption levels.
The contractor can carryover any unused portion of the tax credit for up to four subsequent years. As the result of a 2006 amendment, credits earned after August 25, 2006 are freely transferable to any taxpayer upon the filing of a transfer agreement.