OK HB1041

Aircraft dealer licenses require a $250.00 fee, with 100% of collected fees deposited in the Oklahoma Aeronautics Commission Revolving Fund instead of the General Revenue Fund.

Aircraft registration fees and taxes are restructured to deposit 100% into the Oklahoma Aeronautics Commission Revolving Fund, eliminating the previous 3% deposit to the State Treasurer's General Revenue Fund.

Aircraft dealer license applicants must prove bona fide dealer status through consistent business identification, established place of business, and advertising; licenses expire every two years and are non-transferable.

The Oklahoma Tax Commission may deny, revoke, or suspend dealer licenses and impose fines up to $500.00 per day for violations including false advertising, fraudulent acts, moral turpitude convictions, or failure to maintain qualifications.

The act becomes effective July 1, 2015, with an emergency clause allowing immediate implementation upon passage and approval.