One of the hottest issues for the Oklahoma State Home Builders Association this legislative season involves tax credits. The purpose of a tax credit is to incentivize industry. With tight budgets, legislators are reviewing all departmental spending and millions of dollars spent in tax credits is under scrutiny. The sticking point for the Legislature in reviewing various tax credits on the books are "Does a tax credit pay for itself?"
One of the most important credits to our industry involves energy-efficient home building. In simple terms, our tax credits incentivize the building of energy efficient homes, this then lessens the demand on energy and the environment. We ask you to contact your legislator about this issue, send along this link explaining our position, and ask them to preserve the energy efficient residential construction tax credit.
Read this position paper on the issue
The issue is not as simple as it seems. Here is an excellent explainer to provide your legislator on our position concerning the energy-efficient tax credits and their transferability.
The overarching question that needs to be decided by the Legislature, without demagoguery, is whether there are legitimate needs that need to be incentivized. If so, then the wisdom of the legislature is how best to incentivize an action. It may reason that a tax credit is the best response. If it does, then such credits should be transferable.
Here is an issue on which you need to be informed. And then, inform your legislator.