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OK HB2274
Bill
Status
2/6/2012
Primary Sponsor
Jason Murphey
Click for details
AI Summary
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Amends 68 O.S. 2011, Section 2104 regarding motor vehicle excise tax valuation.
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Allows use of National Auto Dealers Association (NADA) average trade-in values as alternative to Oklahoma Tax Commission reference material when determining vehicle values for excise tax purposes.
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Requires actual sales price to be within 20% of average retail price or NADA trade-in value (whichever is less) to validate the taxable amount.
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Effective July 1, 2012, with emergency clause for immediate implementation upon passage and approval.
Legislative Description
Revenue and taxation; allowing alternative reference material when determining value; effective date; emergency.
Motor Vehicles and Transportation
Last Action
Second Reading referred to Appropriations and Budget
2/7/2012