Bill > SB2082

This bill aims to restrict large corporations and similar entities, referred to as "covered institutional investors," from owning single-family homes in Oklahoma. It defines "covered institutional investor" as any corporate structure with more than one member that buys single-family homes for profit, excluding individuals, family trusts, non-profits, and homebuilders. The bill prohibits these investors from acquiring more than twenty-five single-family homes in total, and any purchase violating this rule can be voided by the Attorney General. To ensure transparency, county clerks will be required to file deeds for single-family homes to corporate entities only if accompanied by an affidavit detailing who owns or controls at least 25% of the property, with a public and a confidential section. The Attorney General will have the sole authority to enforce these provisions through measures like civil penalties and requiring divestiture, and while no new agency rules can be created, the Attorney General must provide necessary forms within 90 days of the bill's effective date, which is November 1, 2026. Willfully providing false information in the affidavit is a misdemeanor offense punishable by fines and/or jail time, though lenders and insurers relying on recorded affidavits are exempt. Importantly, this bill applies prospectively, meaning covered institutional investors can keep homes they already own but cannot acquire new ones after the effective date.

Labor and Employment

http://www.oklegislature.gov/BillInfo.aspx?Bill=sb2082&Session=2600