The bill establishes the Oklahoma State Penitentiary Prison Rodeo Revolving Fund within the State Treasury, specifically for the Department of Corrections. This fund will be a continuous source of financing, not limited by fiscal year constraints, and will consist of all funds received from legislative appropriations aimed at constructing, repairing, improving, upgrading, and rehabilitating the prison rodeo arena. The purpose of the fund is to create program opportunities within the prison system and promote economic development. The Department of Corrections will have the authority to budget and expend these funds, with expenditures made through warrants issued by the State Treasurer.

Additionally, the bill appropriates $8,300,000 from the General Revenue Fund for the fiscal year ending June 30, 2023, to be transferred to the newly created revolving fund. The act is set to take effect on July 1, 2025, and includes an emergency clause, allowing it to be enacted immediately upon passage and approval to ensure the preservation of public peace, health, or safety.