HB 2707 Summary

• Amends 47 O.S. Section 1132.3 to authorize motor vehicle registration fee credits for vehicles destroyed by wildfires in calendar year 2013 that had a Presidential Major Disaster Declaration issued.

• Amends 68 O.S. Section 1367.1 to allow sales tax deduction based on wildfire occurrence in calendar year 2013 with a Presidential Major Disaster Declaration, with deduction limited to maximum of $2,500 per month per sales tax permit.

• Amends 68 O.S. Section 2103.1 to provide motor vehicle excise tax credit for replacement vehicles whose destroyed predecessors were destroyed by wildfires in calendar year 2013 with a Presidential Major Disaster Declaration, with credit amount equal to excise tax paid on destroyed vehicle.

• Effective date is July 1, 2014, with emergency clause declaring immediate necessity for public peace, health and safety.