Bill to Clarify Peer-to-Peer Car Rules, Regulations Passes in House
Mike Seals - March 11, 2021 11:33 am
OKLAHOMA CITY – A bill to clarify how peer-to-peer (P2P) car companies are regulated in the state passed unanimously in the Oklahoma House of Representatives Wednesday.
House Bill 2263, by Rep. Lonnie Sims, R-Jenks, was written to address uncertainty around an industry that is growing rapidly with consumers in Oklahoma and across the country. P2P car platforms, often compared to “AirBnB for cars,” allow owners to rent out their vehicles to consumers via a smartphone app.
HB 2263 requires all automobiles rented on P2P platforms to have valid insurance, ensures that vehicles will not have outstanding safety recalls and clarifies provisions for P2P transactions that are subject to the Oklahoma Vehicle Rental Tax.
“It’s clear that peer-to-peer car rental companies are here to stay,” said Sims. “As with any emerging technology, we want to support innovation and growth while ensuring our rules and regulations keep up with new business models. That’s exactly what House Bill 2263 does.”
The bill was crafted with input from P2P companies like Turo, traditional car rental providers like Hertz and Enterprise and safety advocates like AAA and the Oklahoma Safety Council.
Having passed the House 75-0, it now goes to the Senate for consideration, where it is authored by Sen. Paul Rosino, R-Oklahoma City.