Income tax credit; reauthorizing credit for construction of energy efficient property for certain tax years. Effective date.

SB 99 reauthorizes an income tax credit for contractors building energy-efficient residential properties in Oklahoma. It provides a $4,000 credit for homes certified 40%+ above 2003 energy codes (or $2,000 for 20-39% above), directly affecting residential contractors who construct qualifying homes under 2,000 square feet. The bill updates requirements to mandate that property completion must occur in the same tax year the credit is claimed, and extends the credit’s effective period to tax year 2025 and beyond. This replaces the previous 2006-2016 timeframe and updates statutory references to reflect current requirements.