This bill amends Section 2104 of Title 68 of the Oklahoma Statutes, which pertains to the definition of vehicle excise tax. It modifies the definition of the vehicle's value for excise tax purposes, stating that the value will be based on the actual sales price after any trade-in discounts or credits. Additionally, it establishes that the sales price must be within twenty percent of the average retail price as listed in automotive reference materials provided by Service Oklahoma. The bill also 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.

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