The "Fund Students, Not Systems Act" establishes a new Education Savings Account (ESA) Program to be administered by the State Department of Education in Oklahoma. This program aims to provide families with more educational options while promoting innovation and excellence in public schools. The act outlines the application process for parents or guardians of eligible students, including necessary documentation and deadlines for submission. It also mandates the State Board of Education to set procedures for application approval and specifies how the amount for each ESA will be calculated and transferred quarterly. The act emphasizes that it will not impose additional requirements on private schools or homeschool families, ensuring their independence and autonomy.

Additionally, the act requires the State Department of Education to submit an annual report detailing the funds allocated to ESAs, which will help the Legislature make informed decisions regarding public school funding. The provisions of the act are designed to be severable, meaning that if any part is deemed void, the remaining sections will still stand. The act is set to take effect on July 1, 2025, and includes an emergency clause for immediate implementation upon passage and approval.