The bill establishes the Morrill Act of 1890 Revolving Fund for the Oklahoma State Regents for Higher Education, which will serve as a continuing fund to support the distribution of funds to Oklahoma's land-grant institutions established under the Morrill Act of 1890. This fund will not be subject to fiscal year limitations and will consist of all monies received from legislative appropriations. The Oklahoma State Regents will be responsible for budgeting and expending the funds, with expenditures made upon warrants issued by the State Treasurer.

Additionally, the bill appropriates $418,986,272 from the General Revenue Fund of the State Treasury for the fiscal year ending June 30, 2026, specifically for the equitable distribution of funds to Oklahoma's 1890 land-grant institutions. The act is set to take effect on July 1, 2025, and includes an emergency clause to ensure its immediate implementation upon passage and approval.