OKLAHOMA ENACTS TWO-YEAR HISTORIC TAX CREDIT DEFERRAL

Friday, June 18, 2010 - 8:00am

Gov. Brad Henry signed Senate Bill 1267 into law yesterday, suspending more than two dozen tax credit programs and deferring payments by two years for credits relating to historic building rehabilitation, wind generation and job creation. The bill is expected to generate approximately $25 million next year for the state, which has a $1.2 billion budget deficit, the Associated Press reported. The moratorium and deferred payment schedule will go into effect on July 1, 2010 and cease on June 30, 2012.