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Bill > HB2967
OK HB2967
OK HB2967Revenue and taxation; motor vehicle excise tax; transfer of vehicle ownership; effective date.
summary
Introduced
02/02/2026
02/02/2026
In Committee
02/03/2026
02/03/2026
Crossed Over
Passed
Dead
Introduced Session
2026 Regular Session
Bill Summary
An Act relating to revenue and taxation; amending 68 O.S. 2021, Section 2103, as last amended by Section 23, Chapter 330, O.S.L. 2025 (68 O.S. Supp. 2025, Section 2103), which relates to vehicle excise tax on the transfer of vehicle ownership; modifying excluded transfers; and providing an effective date.
AI Summary
This bill modifies the existing motor vehicle excise tax law in Oklahoma by expanding the list of transfers that are exempt from this tax, which is a tax levied upon the transfer of legal ownership or the first registration of a vehicle in the state. Specifically, it adds transfers between a legal guardian and child, and between a grandparent and grandchild, to the existing exemptions for transfers between spouses and parent and child. It also expands the exemption for transfers involving trusts to include situations where the spouse, child, grandchild, parent, legal guardian, or grandparent of the individual has the right to revoke the trust. The bill also clarifies that the excise tax will not be collected again at the end of a lease period if the lessee acquires full ownership of the vehicle. Finally, this bill is set to become effective on November 1, 2026.
Committee Categories
Budget and Finance
Sponsors (2)
Last Action
Referred to Appropriations and Budget Finance Subcommittee (on 02/03/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | http://www.oklegislature.gov/BillInfo.aspx?Bill=hb2967&Session=2600 |
| BillText | https://www.oklegislature.gov/cf_pdf/2025-26%20INT/hB/HB2967%20INT.PDF |
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