This bill amends various sections of the Oklahoma Statutes concerning revenue and taxation, particularly focusing on exemptions related to motor vehicle sales and tangible personal property. It modifies Section 1355 by removing the previous requirement that a portion of the levy (1.25%) be applied to gross receipts from motor vehicle sales. Additionally, it eliminates the motor vehicle excise tax exemption in Section 2106 and removes payment responsibilities for sales tax in Sections 1361 and 1402. Furthermore, Section 1404 is amended to remove exemptions related to the use of tangible personal property, specifically for motor vehicles.

The bill aims to clarify tax obligations and streamline responsibilities by eliminating certain exemptions and payment duties. It introduces new exemptions for personal property brought into the state by prospective residents, articles used by commercial airlines or railroads, livestock purchased for feeding or breeding, and rail transportation cars for coal delivery to electric power plants. The bill is set to take effect on July 1, 2025, and includes an emergency clause for immediate enactment upon passage and approval, emphasizing the urgency of these changes for public welfare.

Statutes affected:
Introduced: 68-1355, 68-1404