Bill > SB855

This bill modifies Oklahoma's larceny law by lowering the value threshold for different levels of criminal offenses related to theft from retail or wholesale establishments. The key changes reduce the misdemeanor threshold from $1,000 to $500, which means thefts of merchandise valued under $500 will be treated as misdemeanors for first and second convictions, with potential jail time up to 30 days and fines between $10 and $500. For third or subsequent convictions under $500, the penalty increases to up to one year in county jail and a $1,000 fine. The bill also adjusts felony thresholds: thefts between $500 and $2,500 are now considered felonies punishable by up to two years in the Department of Corrections, thefts between $2,500 and $15,000 can result in up to five years imprisonment, and thefts of $15,000 or more can lead to up to eight years in prison. The bill maintains provisions allowing aggregation of theft values within a 180-day period and requires restitution to victims. These changes aim to update and potentially standardize penalties for retail theft, with the new law set to take effect on November 1, 2025.

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http://www.oklegislature.gov/BillInfo.aspx?Bill=sb855&Session=2600