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 not limited by fiscal year constraints. This fund will consist of all monies received from legislative appropriations aimed at distributing funds to Oklahoma's land-grant institutions established under the Morrill Act of 1890. The bill outlines that all funds credited to this revolving fund are appropriated for the specified purpose and will be budgeted and expended by the State Regents. Expenditures will be made through warrants issued by the State Treasurer, following the approval process set by law.

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.