Commissioners of the Land Office; granting of commercial and agricultural leases; providing for appraisal of certain improvements; directing certain reimbursement. Effective date.

Commercial leases must now be granted through public bidding at fair market value if exceeding three years, with a maximum lease term of 55 years.

Agricultural leases are now limited to a maximum of five years and must also be granted through public bidding at fair market value.

New provision requires lessees to reimburse previous lessees for the appraised value of permanent improvements that cannot be removed without damaging the land.

Land Office must require payment of ad valorem property taxes on improvements on state school land.

Leases granted at less than fair market value or without compliance with the new section are now void.

Land Office may now refuse bids from parties who cannot demonstrate adequate creditworthiness.

The act's effective date was set to November 1, 2025.

New restriction added preventing the Land Office from charging lessees extra irrigation fees above the original bid amount, unless the water source is owned or managed by the Land Office.

Document title and formatting updated to reflect floor amendment status and submission details.

Document header changed from 'ENROLLED SENATE' to 'COMMITTEE SUBSTITUTE' indicating the bill is in a revised form pending further consideration

Page numbering and layout formatting were reorganized with new line numbers and spacing adjustments

Added committee substitute identification and page references (Req. No. 1811) to track the revision process

Removed enrolled bill signatures and official stamps while adding committee substitute formatting elements

Bill title updated from 'ENGROSSED SENATE' to 'ENROLLED SENATE' indicating final approval status.

Added 'Burns' as a co-sponsor from the House of Representatives alongside Murdock and Archer.

Added House passage date and signature lines for Governor and Secretary of State to complete the enrolled bill format.

Senate passage date changed from March 26, 2025 to May 22, 2025 to reflect final legislative action.

Added Burns as a House coauthor to the bill

Updated the bill title formatting to include all key topics in brackets

Adjusted the House passage date from April 22, 2025 to blank date for Senate action

Minor text formatting adjustments throughout the document

Added a creditworthiness requirement for lease applicants, allowing the Land Office to reject bids from parties without adequate credit.

Changed the effective date of the act from July 1, 2025 to November 1, 2025.

Removed the emergency clause that would have allowed the act to take effect immediately upon passage.

Changed the referenced statutory section from 64 O.S. 2021, Section 1052 to Section 1023.