Bill providing regulatory framework for peer-to-peer car sharing becomes law

OKLAHOMA CITY – After bringing all stakeholders to the table, Sen. Paul Rosino has steered his legislation on peer-to-peer car sharing across the finish line.  Senate Bill 355, authored by Rosino R-Oklahoma City, Rep. Lonnie Sims, R-Jenks, and House Majority Floor Leader Jon Echols, R-Oklahoma City, establishes a regulatory framework for peer-to-peer car sharing.  SB 355, which was supported unanimously by both chambers and has been signed into law by Gov. Kevin Stitt, will take effect Nov. 1, 2021.

“Peer-to-peer car sharing can be compared to someone renting their home or apartment through Airbnb.  Owners list their vehicles on a platform so they can lease them for extra money,” Rosino said.  “SB 355 creates the regulatory framework, addressing important issues like liability, while empowering Oklahomans who want to make extra money by sharing their vehicles.”

SB 355, creating the Peer-to-Peer Car Sharing Program Act, would require all automobiles rented on peer-to-peer platforms to have valid insurance and ensure those vehicles are not subject to outstanding recalls. 

The legislation was the result of collaboration from peer-to-peer car sharing marketplaces, like Turo; traditional rental car companies, such as Enterprise Rent-A-Car; insurance industry stakeholders; and technology associations.

For more information, contact:  Sen. Paul Rosino at 405-521-5618 or email Paul.Rosino@oksenate.gov