The bill amends Section 3-104 of Title 70 of the Oklahoma Statutes, which governs the powers and duties of the State Board of Education. It restricts the Board's ability to revoke or suspend licenses or certificates to specific reasons, including willful violations of law, child abuse or neglect, moral turpitude, incompetency, or neglect of professional duty. Furthermore, the bill mandates that the Board cannot summarily revoke or suspend a license or certificate without a valid emergency, as defined by the Oklahoma Administrative Procedures Act, and requires a ten-day notice to be given to the affected license or certificate holders and their employing school district prior to any complaint filing. Additionally, it clarifies that the State Department of Education must revoke the certificate of any individual convicted of certain crimes related to sexual abuse or exploitation.

The bill also establishes a framework for redbud school grants to support school districts and eligible charter schools in Oklahoma. The State Department of Education will calculate these grants based on nonchargeable county four-mill revenue and new revenue from a five-mill building fund levy, treating each eligible charter school as a unique district. For fiscal year 2022, funding will come from existing appropriations, while for fiscal year 2023 and beyond, grants will be funded through appropriations not exceeding three-fourths of the previous year's tax collections, with potential additional funding from sales tax. The bill defines "eligible charter school," excluding statewide virtual charter schools, and requires the Department of Education to recognize grant recipients and provide annual estimates of grant allocations to legislative appropriations committees. The act is set to take effect on July 1, 2025, with an emergency clause for immediate implementation upon passage and approval.