Summary of HB 2720

• Consolidates Oklahoma's larceny statutes by creating a single, unified law codified in Title 21 with graduated penalties based on the value of property stolen or the location from which it was taken.

• Establishes five penalty tiers: $10,000+ (up to 10 years), $5,000-$9,999 or from dwellings (up to 5 years), $1,000-$4,999 or from structures (up to 2 years), $500-$999 (up to 1 year jail), and under $500 (misdemeanor with up to 1 year jail).

• Repeals numerous outdated larceny provisions from Title 21 O.S. 2001 (Sections 1702-1732 and related sections), consolidating fragmented theft statutes into one comprehensive statute.

• Becomes effective November 1, 2010.