Bill > HB1604

This bill modifies Oklahoma's vehicle excise tax law to expand the list of transfers that are exempt from the tax. Specifically, the bill adds three new categories of transfers that will not be subject to the excise tax: transfers between a legal guardian and child, transfers between grandparents and grandchildren, and transfers involving a legal guardian or grandparent when an individual transfers a vehicle to an express trust. The existing law already exempts transfers between husbands and wives, parents and children, and transfers to certain individual trusts. The bill also clarifies language around these exempt transfers and adds more specific familial relationships to the existing provisions. The excise tax continues to apply to most vehicle ownership transfers, with rates varying based on whether the vehicle is new or used, and the type of vehicle being transferred. The bill is set to become effective on November 1, 2025, and maintains the existing structure of vehicle excise taxation while expanding the range of family-related transfers that can occur without incurring the tax.

Budget and Finance

http://www.oklegislature.gov/BillInfo.aspx?Bill=hb1604&Session=2600