Hamilton files measure prohibiting foreign-owned businesses from purchasing Oklahoma lands
OKLAHOMA CITY – As a rancher in Southeastern Oklahoma, Sen. Warren Hamilton has seen the impact of Oklahoma lands being purchased by foreign entities. The McCurtain Republican says it’s time the legislature puts a stop to these transactions and has filed Senate Bill 1469 to clarify that foreign ownership of Oklahoma lands is prohibited, even from business entities and trusts.
“As Oklahoma’s marijuana industry continues to grow, we’ve seen an increasing number of foreign interests come into our state and purchase our farmland for astronomical amounts of money in order to set up grows and other related businesses,” Hamilton said. “While Oklahoma law already prevents foreign land ownership, it doesn’t prevent these folks from creating businesses to purchase property. Senate Bill 1469 will put an end to this workaround of current state statute.”
