Bill proposes ban on foreign businesses buying OK land

A state senator filed a bill that prohibits foreign-owned businesses from buying land in Oklahoma, saying foreign interest in the state’s marijuana industry is a primary concern.

Sen. Warren Hamilton, R-McCurtain, filed Senate Bill 1469, which states that all foreign ownership of Oklahoma lands is prohibited.

“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.”

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