The bill amends Section 549 of Title 57 of the Oklahoma Statutes, which pertains to inmate trust funds and the powers of the State Board of Corrections. Key modifications include the insertion of "of the Department of" before "Corrections" in the context of the Construction Division, and the addition of "or life" to clarify exemptions for inmates serving life sentences without the possibility of parole. The bill also updates statutory language, removes obsolete terms, and specifies that funds from inmate accounts may be used for filing civil or criminal actions as defined by relevant statutes.

Additionally, the bill outlines the responsibilities of the State Board of Corrections regarding the management of inmate wages, including the establishment of mandatory savings accounts and the allocation of funds for various purposes such as victim restitution and costs of incarceration. It mandates that 5% of gross wages earned by inmates in private prison industries be paid into the Crime Victims Compensation Revolving Fund. The bill is set to take effect on November 1, 2025.