A. There is levied and there shall be paid to the Oklahoma Tax Commission a fee of Three Dollars ($3.00) upon every vehicle to be registered or licensed, except for those licensed pursuant to subsection (c) of Section 1210.34 of Title 70 of the Oklahoma Statutes. Said fee shall accrue and shall be collectible upon each vehicle under the same circumstances and shall be payable in the same manner and times as apply to vehicle licenses and registrations under the provisions of the Oklahoma Vehicle License and Registration Act; provided, said fee shall be paid in full for the then current year at the time any vehicle is first registered in a calendar year.

B. Two-thirds of the monies collected pursuant to this section shall be transferred by the Tax Commission each month to the State Treasurer for deposit in the General Revenue Fund. For the fiscal year beginning July 1, 1999, of the remaining one-third of the monies collected pursuant to this section each fiscal year, the first Four Hundred Thousand Dollars ($400,000.00) shall be transferred by the Tax Commission to the State Treasurer for deposit in the Motor Vehicle Driver Education Revolving Fund created in Section 2 of this act and any amount in excess of Four Hundred Thousand Dollars ($400,000.00) shall be transferred by the Tax Commission to the State Treasurer for deposit in the General Revenue Fund. For the fiscal year beginning July 1, 2000, and for each fiscal year thereafter, of the remaining one-third of the monies collected pursuant to this section each fiscal year, the first Nine Hundred Thousand Dollars ($900,000.00) shall be transferred by the Tax Commission to the State Treasurer for deposit in the Motor Vehicle Driver Education Revolving Fund created in Section 2 of this act and any amount in excess of Nine Hundred Thousand Dollars ($900,000.00) shall be transferred by the Tax Commission to the State Treasurer for deposit in the General Revenue Fund.

C. The collection and payment of said fee shall be a prerequisite to license or registration of any vehicle, except for those licensed pursuant to subsection (c) of Section 1210.34 of Title 70 of the Oklahoma Statutes.

Added by Laws 1987, c. 204, § 126, operative July 1, 1987. Amended by Laws 1994, c. 243, § 2, eff. Sept. 1, 1994; Laws 1998, c. 424, § 1, eff. July 1, 1998.