Revenue and Taxation; vehicle excise tax; value; bill of sale; report; effective date.

HB 1023 modifies Oklahoma's vehicle excise tax calculation by requiring the taxable value to be the actual sales price before trade-in discounts, but not exceeding 20% above the average retail price from official automotive references. It mandates that bills of sale include the sales price, number of tires, and tire rim sizes. Service Oklahoma must report the tax's fiscal impact annually starting November 2026. The bill directly affects vehicle buyers, sellers, and Service Oklahoma, effective November 2025.