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OK SB916
Bill
Status
2/3/2025
Primary Sponsor
Micheal Bergstrom
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AI Summary
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Prohibits foreign adversary nations, their government officials, and entities organized in or controlled by foreign adversary nations from owning, controlling, or leasing agricultural land or real property within 5 miles of military installations in Oklahoma.
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Requires persons or entities already holding prohibited interests to divest within 2 years of the effective date; allows acquisition through devise, descent, or debt collection only if divested within 2 years.
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Exempts de minimus interests (less than 5% ownership in publicly traded companies), residential property acquisitions by natural persons, diplomatic property, and certain agricultural research operations.
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Requires registration of all prohibited property interests with the Oklahoma Attorney General within 90 days, with a civil penalty of $1,000 per day for late filing; requires affidavits from purchasers attesting non-violation status.
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Authorizes civil forfeiture to the state for violations, with proceeds distributed to lienholders, outstanding fines, Attorney General costs, and remaining amounts to former property holders; allows ex parte seizure orders upon showing clear and present danger.
Legislative Description
Property; prohibiting control of certain real property by certain foreign adversaries. providing for acquisition and subsequent sale of certain property upon certain judicial determination. Effective date.
Last Action
Second Reading referred to Judiciary
2/4/2025