The bill, known as the "Oklahoma College Athletic Conference Act," establishes the Oklahoma NCAA Division II Athletic Conference Exploration Commission to explore the creation of a new NCAA Division II athletic conference in Oklahoma. The Commission will consist of ten members, primarily the presidents of various Oklahoma universities, and will be responsible for conducting a thorough feasibility analysis that includes evaluating potential member institutions, financial sustainability, and the impact on student-athletes. The Commission is also tasked with consulting stakeholders and submitting a detailed feasibility report to the Oklahoma Legislature within twelve months of its first meeting.

Additionally, the bill creates the Oklahoma NCAA Division II Athletic Conference Exploration Commission Revolving Fund, which will be used to finance the Commission's activities, including studies and consultations. The Commission is authorized to hire independent consultants and engage with the NCAA to ensure compliance with regulations. The bill emphasizes the importance of enhancing athletic competition, fostering community pride, and supporting student-athlete experiences while ensuring compliance with state and federal regulations. An emergency clause is included, allowing the act to take effect immediately upon passage.