OK SB1573

Modifies sales tax exemption for 100% disabled veterans in Oklahoma by adding annual reporting requirements and documentation procedures to the Oklahoma Tax Commission.

Requires eligible disabled veterans to provide annually their current address, spouse name, and names of authorized household members who can make purchases on their behalf, with a $25,000 per year exemption cap.

Establishes that failure to timely provide required information suspends the exemption; exemption is void after one year if not filed, but can be reinstated upon compliance.

Requires vendors to decline the exemption when consumer identification does not match Tax Commission documentation and mandates vendors report fraudulent use to the Tax Commission.

Makes it a misdemeanor to alter, fraudulently use, or misuse a disabled veteran's sales tax exemption card or certificate, with fines up to $1,000 plus penalties; effective November 1, 2012.