The bill establishes the Oklahoma Teacher Recruitment Academy, which will be administered by the Oklahoma State Regents for Higher Education. The Academy aims to provide tuition and mandatory fee assistance to individuals pursuing a bachelor's degree in teacher preparation programs accredited by the Commission for Educational Quality and Accountability, with a commitment to teach in critical shortage subject areas in public schools in Oklahoma. The State Department of Education is tasked with identifying and publishing a list of these critical shortage areas every three years. Eligibility criteria include enrollment in an institution of higher education, submission of an application, and execution of an agreement to earn a degree and teach in a designated subject area.

The bill also creates the Oklahoma Teacher Recruitment Academy Revolving Fund, which will be used to manage the financial assistance provided to eligible students. The assistance amount is capped at $10 million per academic year and is allocated on a first-come, first-served basis. Students must exhaust any federal or state education benefits before receiving assistance from the Academy. To maintain eligibility, students must meet academic standards and provide proof of employment in a critical shortage area after graduation. If they fail to comply with the agreement, they may be required to repay the assistance received, although hardship waivers can be requested. The Oklahoma State Regents are required to submit annual reports detailing participation and compliance with the program. The act is set to take effect on July 1, 2025, and includes provisions for emergency enactment.