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OK SB1501
OK SB1501Medical marijuana bonds; allowing Authority to recall bonds; requiring Authority to provide notice to law enforcement; requiring Authority to keep certain bond information. Effective date.
summary
Introduced
02/02/2026
02/02/2026
In Committee
02/19/2026
02/19/2026
Crossed Over
Passed
Dead
Introduced Session
2026 Regular Session
Bill Summary
An Act relating to medical marijuana bonds; amending Section 2, Chapter 41, O.S.L. 2023 (63 O.S. Supp. 2025, Section 427.26), which relates to bond required for land used in commercial growing operations; defining term; allowing the Oklahoma Medical Marijuana Authority to recall certain bonds; requiring the Authority to provide certain notice to certain law enforcement in certain situations; requiring the Authority to keep certain bond information for certain period of time; requiring the Authority to promulgate certain rules; updating statutory reference; and providing an effective date.
AI Summary
This bill modifies existing law regarding bonds required for commercial medical marijuana growing operations in Oklahoma, defining "reclamation" as returning land to a marketable condition and allowing the Oklahoma Medical Marijuana Authority (OMMA) to recall these bonds under specific circumstances such as property abandonment, license revocation, or in response to violations requiring remedial action, with the bond funds intended to cover property restoration costs. The bill also mandates that the OMMA notify local law enforcement agencies when a medical marijuana business license expires and requires the OMMA to maintain records of all bond statuses for at least two years, while also directing the Authority to create necessary rules and establishing an effective date of November 1, 2026.
Committee Categories
Business and Industry
Sponsors (2)
Last Action
Reported Do Pass Business and Insurance committee; CR filed (on 02/19/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | http://www.oklegislature.gov/BillInfo.aspx?Bill=sb1501&Session=2600 |
| BillText | https://www.oklegislature.gov/cf_pdf/2025-26%20FLR/SFLR/SB1501%20SFLR.PDF |
| Fiscal Note/Analysis - Senate: Introduced | https://www.oklegislature.gov/cf_pdf/2025-26%20SUPPORT%20DOCUMENTS/BILLSUM/Senate/SB1501%20INT%20BILLSUM.PDF |
| BillText | https://www.oklegislature.gov/cf_pdf/2025-26%20INT/SB/SB1501%20INT.PDF |
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