Foreign Adversary & State-Owned Enterprise Land Ownership Enforcement Act; foreign adversary; state-owned enterprise; affidavit; enforcement; penalties; definitions; effective date.

HB 3840 prohibits foreign governments, state-owned enterprises (SOEs), or entities controlled by them from owning land within 10 miles of military installations or critical infrastructure sites in Oklahoma. It requires all land buyers to submit an affidavit disclosing beneficial owners, funding sources (including foreign government involvement), and certification of compliance with the law. The Attorney General can investigate violations, impose civil penalties up to $250,000 per transaction, or seek court-ordered divestiture of prohibited land holdings. The bill directly affects foreign entities seeking land near sensitive locations and land buyers in those zones, with enforcement starting after November 1, 2023. Exceptions include bona fide residents and transactions covered by federal law or existing CFIUS agreements.