Oklahoma 2022 Regular Session

Oklahoma House Bill HB1497 Compare Versions

Version 1 (Old)

Version 2 (New)

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3		-	SENATE FLOOR VERSION - HB1497 SFLR Page 1
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29		-	SENATE FLOOR VERSION
30		-	April 6, 2021
	28	+	STATE OF OKLAHOMA
31	29
	30	+	1st Session of the 58th Legislature (2021)
32	31
33	32		COMMITTEE SUBSTITUTE
34	33		FOR ENGROSSED
35		-	HOUSE BILL ~~NO.~~ 1497 By: McCall, Hilbert, Roberts
	34	+	HOUSE BILL 1497 By: McCall, Hilbert, Roberts
36	35		(Dustin), Wallace, Bashore,
37	36		West (Kevin) and Boles of
38	37		the House
39	38
40	39		and
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42	41		Bullard of the Senate
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	45	+
	46	+	COMMITTEE SUBSTITUTE
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47	48		An Act relating to property; amending 60 O.S. 2011,
48	49		Sections 121 and 122, which relate to alien ownership
49	50		of land; prohibiting certain ownership of land
50	51		through business entity or trust ; requiring certain
51	52		companies to inform Attor ney General or district
52	53		attorney of potential sale; requiring paus e of
53	54		certain transactions pending investigat ion; allowing
54	55		resumption of certain transactions upon approval;
55	56		requiring termination of certain transactions;
56	57		modifying exception to certain ownership
57	58		requirements; making language gender-neutral;
58	59		updating statutory reference; and providing an
59	60		effective date.
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65	66		BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
66	67		SECTION 1. AMENDATORY 60 O.S. 2011, Section 121, is
67	68		amended to read as follows:
68	69		Section 121. No alien or any person who is not a citizen of the
69	70		United States shall acquire title to or own land in the State of
70		-	Oklahoma this state either directly or indirectly through a business
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72		-	SENATE FLOOR VERSION - HB1497 SFLR Page 2
73		-	(Bold face denotes Committee Amendments) 1
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	97	+	Oklahoma this state either directly or indirectly through a business
98	98		entity or trust, except as hereinafter provided, but he or she shall
99	99		have and enjoy in the State of Oklahoma this state such rights as to
100	100		personal property as are, or shall be accorded a citizen of the
101	101		United States under the laws of the nation to which such alien
102	102		belongs, or by the treaties of such nation with the United States,
103	103		except as the same may be a ffected by the provisions of this act
104	104		Section 121 et seq. of this title or the Constitution of this state.
105	105		Any abstract company, closing company or title company with reason
106	106		to believe that a client is attempting to purchase lan d in this
107	107		state in violation of the provisions of this article shall inform
108	108		the Attorney General or the district attorney of the county where
109	109		the land is located and shall pause the transaction for the duration
110	110		of the investigation of the Attor ney General or district attorney .
111	111		Upon completion of an investigation, a transaction for sale of the
112	112		property may be resumed upon approval of the Attorney General or
113	113		district attorney. If the Attorney General or district attorney
114	114		determines that the sale of the property would violate the
115	115		provisions of this article, the trans action shall be terminated .
116	116		SECTION 2. AMENDATORY 60 O.S. 2011, Section 122, is
117	117		amended to read as follows:
118	118		Section 122. This article shall not ap ply to lands now owned in
119	119		this state by aliens so long as t hey are held by the present owners,
120	120		nor to any alien who is or shall take up bona fide residence in this
121		-	state: and; provided, that any alien who is or shall become a b ona
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123		-	SENATE FLOOR VERSION - HB1497 SFLR Page 3
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	122	+	Req. No. 1989 Page 3 1
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	147	+	state: and; provided, that any alien who is or shall become a b ona
149	148		fide resident of the Stat e of Oklahoma, or any lawfully recognized
150	149		business entity, the majority of the voting stock or equivalent
151	150		controlling equity in terest of which is owned by one or more
152	151		resident aliens, shall have the right to acquire and hold la nds in
153	152		this state upon the sa me terms as citizens of the State of Oklahoma
154	153		during the continuance of such bona fide residence of such alien in
155	154		this state: Provided, that if any such resident alien shall cease
156	155		to be a bona fide inhabitant of this state, such a lien shall have
157	156		five (5) years from the time he or she ceased to be such bona fide
158	157		resident in which to alienate such lands.
159	158		SECTION 3. This act shall become effective November 1, 2021.
160		-	~~COMMITTEE REPORT BY: COMMITTEE ON JUDICIARY~~
161		-	~~April~~ 6, 2021 ~~- DO PASS AS AMENDED~~
	159	+
	160	+	58-1-1989 TEK 4/6/2021 11:10:27 AM