Bill > HB3803

This bill introduces criminal penalties for violations related to foreign ownership of land in Oklahoma, defining a "prohibited foreign party" as an individual or entity with ties to countries subject to specific U.S. trade regulations, or those with significant control by such individuals or entities, and a "prohibited foreign-party-controlled business" as a business where a prohibited foreign party holds a controlling interest. It prohibits these prohibited foreign-party-controlled businesses from acquiring or leasing land in the state, and prevents any party from holding land as a trustee or fiduciary for them, with a one-year period for divestment of illegally held property, and also restricts prohibited foreign parties from owning agricultural land within a ten-mile radius of critical infrastructure, though resident aliens are exempt from these restrictions. The bill also shortens the timeframe for non-resident aliens and prohibited foreign parties to divest land acquired through inheritance or foreclosure from five years to one year, and clarifies that a resident alien who ceases to be a bona fide resident of Oklahoma has one year to alienate their land.

http://www.oklegislature.gov/BillInfo.aspx?Bill=hb3803&Session=2600