House Bill No. 1183, introduced by Grego, amends the existing law regarding the valuation of motor vehicles for the purpose of the motor vehicle excise tax in Oklahoma. The bill specifies that the value of a motor vehicle, excluding manufactured homes, will be determined based on the actual sales price at the time the owner acquires the vehicle. Notably, the bill removes the previous requirement that the vehicle's value must be within twenty percent of the average retail price as listed in automotive reference materials, as well as the stipulation regarding discounts or credits for trade-ins.

The amended law will streamline the process by focusing solely on the actual sales price of the vehicle, which will serve as the basis for the excise tax. Additionally, the bill outlines that the number of tires and tire rim diameters must be recorded on the bill of sale or another prescribed form. The effective date for this legislation is set for November 1, 2025.

Statutes affected:
Introduced: 68-2104
House Committee Substitute: 68-2104
Floor (House): 68-2104
Floor (Senate): 68-2104
Engrossed: 68-2104
Amended And Engrossed: 68-2104
Enrolled (final version): 68-2104
Sub Committee OR Policy Committee Recommendations (House) Sub Committee Recommendation: 68-2104