Oklahoma Senate Bill SB894

Oklahoma 2022 Regular Session

• Introduced: 2/1/21
• Refer: 2/2/21
• Report Pass: 2/9/21
• Refer: 2/9/21
• Report Pass: 2/18/21
• Engrossed: 3/10/21
• Refer: 3/22/21

Caption

Oklahoma Vessel and Motor Registration Act; creating a certificate of salvage title. Effective date.

Impact

The enactment of SB894 will create a clear pathway for the registration of older, lower-value vessels, potentially simplifying the process for owners of these types of vehicles. By formalizing the salvage title system, the bill is expected to enhance regulatory compliance and provide a method for individuals to legally document ownership of their vessels or motors. This change could encourage registration of previously unregistered vehicles, which benefits the state in terms of tax collections and regulatory oversight.

Summary

Senate Bill 894 focuses on establishing a process for obtaining a certificate of salvage title for certain vessels and outboard motors in Oklahoma. It defines a 'salvage vessel' and a 'salvage outboard motor' as those over 20 years old with a fair cash value of less than $400 and outlines the necessary steps for individuals to apply for a salvage title. Key details include the required information for application, which must be submitted to the Oklahoma Tax Commission, ensuring proper documentation for registration and ownership.

Sentiment

General sentiment around SB894 appears to be supportive, particularly from those advocating for clearer regulations in vehicle ownership and registration. By establishing formal processes, SB894 may help to mitigate issues related to ownership disputes and unregulated use of older vessels. However, there could be concerns among some stakeholders about the associated fees and the additional bureaucratic steps that may be introduced with the new regulations.

Contention

Notable points of contention involve the fees associated with obtaining a salvage title and whether they could be a hindrance for low-income individuals who own aging vessels. Criticism may arise regarding the regulations' implications for accessibility and fairness, questioning whether the cost structure accommodates all potential applicants. Additionally, ensuring that the fees are reasonable is imperative to avoid discouraging vessel owners from seeking legal registration.