OK SB1465

Modifies Section 1364.1 to clarify that direct pay permit holders are not required to pay sales tax on tangible personal property intended for use outside Oklahoma that is temporarily stored or serviced in Oklahoma.

Adds new exemption to Section 1357 effective July 1, 2012 for sales of machinery, tools, supplies, equipment, and related tangible personal property and services used in the repair, remodeling, or maintenance of aircraft, aircraft engines, or aircraft component parts at a qualified aircraft maintenance facility.

A qualified aircraft maintenance facility is defined as one operated by an air common carrier with at least 2,000 full-time-equivalent employees in the preceding year, primarily engaged in aircraft fabrication, repair, alteration, modification, refurbishing, maintenance, building or rebuilding.

Declares an emergency so the act takes effect immediately upon passage and approval.