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Bill > HB3078
OK HB3078
OK HB3078Revenue and taxation; motor vehicle excise tax; sales tax; motor vehicles; effective date; emergency.
summary
Introduced
02/05/2024
02/05/2024
In Committee
02/06/2024
02/06/2024
Crossed Over
Passed
Dead
05/31/2024
05/31/2024
Introduced Session
2024 Regular Session
Bill Summary
An Act relating to revenue and taxation; amending 68 O.S. 2021, Sections 1355, as amended by Section 1, Chapter 370, O.S.L. 2023, 2106, 1361, 1402, and 1404, as amended by Section 2, Chapter 370, O.S.L. 2023 (68 O.S. Supp. 2023, Sections 1355 and 1404), which relate to motor vehicle excise taxes and sales tax; eliminating sales tax levy upon sale of motor vehicles; providing an effective date; and declaring an emergency.
AI Summary
This bill eliminates the sales tax levied on the sale of motor vehicles in Oklahoma. It amends several sections of state law to remove the 1.25% sales tax portion that previously applied to motor vehicle sales, while maintaining other taxes and fees such as the Oklahoma Motor Vehicle Excise Tax. The bill has an effective date of July 1, 2024 and declares an emergency to allow it to take effect immediately.
Sponsors (1)
Last Action
Second Reading referred to Rules (on 02/06/2024)
Taxonomy
Macroeconomics
- ‐ Taxation, Tax Policy, and Tax Reform
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | http://www.oklegislature.gov/BillInfo.aspx?Bill=hb3078&Session=2400 | 01/16/2024 |
| BillText | http://webserver1.lsb.state.ok.us/cf_pdf/2023-24%20INT/hB/HB3078%20INT.PDF | 01/16/2024 |
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