This bill amends various sections of the Oklahoma Statutes concerning revenue and taxation, particularly focusing on exemptions and responsibilities related to sales and use taxes. Key changes include the removal of the exemption for the sale of motor vehicles from certain sales and use taxes, as well as the deletion of specific payment responsibilities associated with these taxes. The bill clarifies that the excise tax on motor vehicles will replace all other taxes, except for certain fees, and establishes a tax rate of 4.5% on the purchase price of tangible personal property.

Additionally, the bill introduces new provisions regarding the use of personal property brought into the state by individuals intending to become residents, and it addresses the use of tangible personal property by commercial airlines, railroads, livestock for feeding or breeding, and rail cars used for transporting coal 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, emphasizing the need for the preservation of public peace, health, or safety.

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