Sales tax; providing exemption for public trusts with a municipality beneficiary. Effective date.

SB 1851 amends Oklahoma's sales tax law to add a new exemption for sales to "public trusts in which a municipality is the beneficiary." This means purchases made by these public trusts (funds managed for municipal purposes) are exempt from state sales tax. The bill specifically updates Section 1356 of Title 68, Oklahoma Statutes, to include this exemption category. It directly affects municipalities and public trusts they oversee, removing sales tax liability on qualifying purchases.