This bill amends the definition of vehicle value for the purposes of the motor vehicle excise tax in Oklahoma. It specifies that the value of a vehicle will be determined based on the actual sales price after any discounts or credits for trade-ins, and it must be within twenty percent of the average retail price as listed in automotive reference materials. Additionally, the bill requires that specific information, including the sales price, number of tires, and tire rim diameters, be included on the bill of sale provided by the seller to the purchaser.

Furthermore, the bill mandates that Service Oklahoma file a report by November 1, 2026, detailing the fiscal impact of the motor vehicle excise tax over the previous three years, along with future projections and other relevant information. The effective date for this act is set for November 1, 2025.

Statutes affected:
Introduced: 68-2104