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Bill > HB4301
OK HB4301
OK HB4301Escrow funds; U.S. veterans; real property; Attorney General; penalty; effective date; emergency.
summary
Introduced
02/02/2026
02/02/2026
In Committee
02/03/2026
02/03/2026
Crossed Over
Passed
Dead
Introduced Session
2026 Regular Session
Bill Summary
An Act relating to protection of veterans; requiring Attorney General to enforce provisions of federal law related to payments made to escrow or title companies in certain real estate transactions; providing for civil penalty; amending 74 O.S. 2021, Section 19.1, which relates to the Attorney General Law Enforcement Revolving Fund; providing for codification; providing an effective date; and declaring an emergency.
AI Summary
This bill requires the Attorney General to enforce federal laws that protect United States veterans and active-duty military members by ensuring that any earnest money, which is a deposit made as part of a real estate transaction, paid to an escrow company or title company is returned if the property's appraised value is less than the agreed-upon contract price. Violators of this federal requirement will face a civil penalty of $500 per occurrence, with the collected funds going into the Attorney General's Law Enforcement Revolving Fund, which is a dedicated fund for the Attorney General's investigative and enforcement activities. The bill also specifies an effective date of July 1, 2026, and declares an emergency, meaning it will take effect immediately upon passage and approval.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Referred to Appropriations and Budget General Government Subcommittee (on 02/03/2026)
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=hb4301&Session=2600 |
| BillText | https://www.oklegislature.gov/cf_pdf/2025-26%20INT/hB/HB4301%20INT.PDF |
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