House clears natural gas fuel tax credit
Photo: Image by KFAQ
OKLAHOMA CITY (AP) - The Oklahoma House has approved an extended tax credit for converting cars to cleaner fuels like hydrogen and compressed natural gas.
The chamber approved the bill and its Senate amendments Monday on a 63-29 vote. The measure now heads to Gov. Mary Fallin.
The tax credit covers 50 percent of the costs of converting motor vehicles and 75 percent of the costs of setting up fueling stations for the alternative fuels. The bill extends the cut until 2020.
Republican Rep. Skye McNiel of Bristow carried the bill. She says the tax cut costs less than $2 million annually and that encouraging a booming natural gas industry is worth the cost. Fellow Republican Rep. Mike Reynolds of Oklahoma City said the tax cut is hypocritical and designed for special interests.
(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)