HB2295 Summary

• Prohibits the Oklahoma Transportation Commission and Oklahoma Turnpike Authority from entering into contracts with foreign companies or foreign-owned companies to sell, lease, sublease, or operate any highway, bridge, or turnpike in the state.

• Prohibits the Transportation Commission and Oklahoma Turnpike Authority from entering into contracts to sell, lease, sublease, or operate highways, bridges, or turnpikes in exchange for compensation in whole or in part by foreign sovereign funds.

• Defines "foreign company" as an entity organized and licensed under the laws of a foreign country or U.S. territory, and "foreign-owned company" as an entity owned in whole or in part by a foreign citizen.

• Makes conforming amendments to prequalification provisions for bidders on construction contracts and applies similar restrictions to the Department of Transportation.

• Becomes effective November 1, 2012.