Bill > SB1492

This bill modifies existing Oklahoma law regarding sales and use tax exemptions for motor vehicles. Specifically, it removes language that limited the exemption for motor vehicles and their accessories to a portion of the sales tax levy, meaning that the Oklahoma Motor Vehicle Excise Tax (a tax on the purchase of vehicles) will now fully exempt these sales from additional sales and use taxes. The bill also updates statutory language and provides an effective date of November 1, 2026.