The bill establishes a new Automatic Vehicle Registration Pre-Payment Program to be administered by Service Oklahoma in coordination with the Oklahoma Tax Commission. This program allows individuals to authorize automatic withdrawals from their bank or credit union accounts to accumulate prepaid funds for vehicle registration renewals. The funds will be held in a designated clearing account and automatically applied to the necessary fees and taxes upon renewal. Any remaining balance after the renewal will continue to accumulate for future use unless the participant opts for a different arrangement.

Additionally, the bill outlines the process for handling prepaid funds when a vehicle is sold, traded, or transferred. Participants can choose to transfer their prepaid balance to another vehicle, apply it to outstanding motor vehicle taxes, or request a refund, minus any processing fees. The legislation also mandates the creation of electronic systems for enrollment and account management, annual statements for participants, and consumer protections. Service Oklahoma and the Oklahoma Tax Commission are tasked with promulgating necessary rules to implement the program effectively, with the act set to take effect on November 1, 2026.