Bill No. 638 amends the Unfair Sales Act by updating definitions and statutory language in 15 O.S. 2021, Section 598.2. Key changes include the modification of the definitions of "cost" for both retailers and wholesalers, which now specify that cost is determined by the lower of invoice or replacement cost, with added provisions for freight charges, cartage, and taxes. The bill also clarifies the definitions of "replacement costs," "retailer," "sell at retail," "sell at wholesale," and "wholesaler," ensuring that these terms are consistent and comprehensive in their application.

The bill removes outdated language and replaces it with clearer definitions, such as changing "cost" to "1. Cost" and "2. Cost" for retailers and wholesalers, respectively. Additionally, it consolidates and clarifies the definitions of retail and wholesale sales, emphasizing the context of transactions for consumption versus resale. The act is set to take effect on November 1, 2025, following its passage in the Senate on March 25, 2025.