This bill amends Section 13 of Title 27 of the Oklahoma Statutes, which governs eminent domain policies. The key changes include increasing the minimum compensation for property acquired through eminent domain to one hundred fifty percent (150%) of the fair market value, as determined by an appraisal. This new compensation requirement applies to both the initial offer made to property owners and the amount that must be deposited with the state court before possession is surrendered. Additionally, the bill mandates that property owners receive a written statement detailing the basis for the compensation amount.

Other provisions in the bill emphasize the importance of negotiation and fair treatment for property owners, including requirements for timely notice before relocation and the prohibition of coercive actions to compel agreement on property prices. The bill also clarifies definitions related to appraisals and acquiring agencies, ensuring that property owners are fully informed of their rights during the acquisition process. The act is set to take effect on November 1, 2025.