Sims files legislation to support peer-to-peer car rental industry
State Rep. Lonnie Sims (R-Jenks) has filed legislation that will support fair and equitable regulation of the budding peer-to-peer rental car industry. Oklahoma, like many states, has seen the dramatic growth of car rental companies that allow customers to rent automobiles directly from owners and pay through a smartphone app.
House Bill 3655 would support the growth of these peer-to-peer platforms by establishing clarity regarding regulations and taxation. The bill would:
• Require all automobiles rented on peer-to-peer platforms to have valid insurance;
• Clarify that cars rented on peer-to-peer platforms are subject to the Oklahoma Vehicle Rental Tax and Oklahoma sales taxes; and
• Clarify that vehicles rented through peer-to-peer platforms may operate lawfully at Oklahoma airports so long as the relevant peer-to-peer company and airport have reached a vendor agreement.
“This is an exciting new industry that is going to be around for a long time,” Sims said. “Our goal is to make sure there is clarity about how these businesses are regulated so they can continue their growth while taking responsibility for insuring their vehicles, paying taxes and playing by the same rules as other rental car companies.”
“As peer-to-peer businesses grow, our role is to make sure we have fair rules and regulations in place to ensure consumer safety, compliance with Oklahoma laws and a fair marketplace,” Sims said.