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Committee votes down bill that would have barred corporate hedge funds from buying Oklahoma homes
Summary
House Bill 1064, which sought to prohibit corporate hedge funds from acquiring properties in Oklahoma, failed in committee by a 2-6 vote after members raised questions about the bill's reach and definitions.
House Bill 1064, introduced by Representative Dolan, sought to prohibit corporate hedge funds from acquiring residential properties in Oklahoma. The committee voted 2-6 on a "do not pass" motion, effectively defeating the bill in committee.
In presenting the bill, Dolan described it as a measure to "prohibit corporate hedge funds from acquiring properties in Oklahoma and pricing our constituents out of the American dream." Committee members questioned how the bill's language would treat LLCs operated by small local investors and how the measure would distinguish speculative hedge funds from ordinary rental investors.
Representative Dolan said local investors would not be targeted, stating, "If your LLC is structured as a small rental company, you are not excluded. If your LLC is structured as a hedge fund investment company, you would be excluded." Several members pressed the sponsor on how to draw that line; the sponsor referred committee members to specific language in the bill (page 2, lines 1–13) but debate continued.
A "do not pass" motion prevailed on a 2-6 vote, and the chair announced the bill had failed and would remain the property of the committee.
