This bill amends Section 2104 of Title 68 of the Oklahoma Statutes, which pertains to the valuation of motor vehicles for the purpose of the motor vehicle excise tax. The amendment modifies the method of determining the vehicle's value by specifying that the actual sales price will be calculated after deducting any credits or discounts provided for a trade-in vehicle, if applicable. This change aims to clarify the valuation process and ensure that the excise tax is based on the net sales price of the vehicle.

Additionally, the bill mandates that the actual sales price, along with details such as the number of tires and tire rim diameters, must be documented on the bill of sale or another form prescribed by Service Oklahoma. The act is set to take effect on July 1, 2026, and includes an emergency clause, allowing it to be enacted immediately upon passage and approval to ensure the timely implementation of these changes.

Statutes affected:
Introduced: 68-2104