Larceny; modifying value threshold for certain misdemeanor and felony offenses. Effective date.

SB 855 modifies Oklahoma's larceny laws for merchandise stolen from retailers or wholesalers by raising value thresholds that determine misdemeanor versus felony charges. It increases the threshold for misdemeanor offenses from $500 to $1,000 for first and second thefts, and for third or subsequent offenses. For felony charges, the bill sets the minimum value at $1,000 (so thefts of $1,000 or more are now felonies, whereas lower values were previously classified as felonies). The bill also requires restitution to victims and allows multiple thefts within 180 days to be combined for sentencing.