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OK HB2952

Bill

Official Source

Status

Engrossed

3/12/2026

Primary Sponsor

Jim Grego

Click for details

Origin

House of Representatives

2026 Regular Session

AI Summary

  • Amends Oklahoma law to allow trade-in vehicle credits or discounts to be subtracted from the sales price before calculating motor vehicle excise tax
  • Vehicle excise tax will be based on the actual sales price minus any trade-in value, rather than the full purchase price
  • Bills of sale must include the actual sales price, number of tires on the vehicle, and tire rim diameters
  • Service Oklahoma or licensed operators will issue vehicle certificates of title upon receipt of completed documentation and payment of applicable taxes and fees
  • Effective date: November 1, 2026

Legislative Description

Revenue and taxation; motor vehicle excise tax; value of vehicle; effective date.

Last Action

Coauthored by Representative Woolley

3/12/2026

Committee Referrals

Appropriations and Budget Finance Subcommittee2/3/2026
Appropriations and Budget2/3/2026

Full Bill Text

No bill text available