OKLAHOMA CITY (AP) — The Oklahoma Legislature is poised to rein in tax subsidies for the wind industry that cost the state tens of millions of dollars each year, but the proposed changes would have no impact on the state budget for years.

Senate Finance Committee Chairman Mike Mazzei says a deal has been reached involving the wind industry, state officials and a landowner group that opposes the tax credits.

Under the deal, a five-year property tax exemption offered to wind farms would expire on Jan. 1, 2017, allowing time for several wind projects currently under construction to qualify for the credit. Mazzei says that exemption is expected to cost the state about $44 million in the upcoming fiscal year. A second subsidy called the zero-emissions tax credit paid directly to wind companies based on how much power they produce is projected to cost the state another $25 million next year, Mazzei said.

"I think everyone has realized that at $70 million, the incentive programs were becoming more than the state could afford," said Mazzei, R-Tulsa, "but the incentives have resulted in the success of 30 active wind farms and an additional ten in development.