This bill introduces new requirements for vendors submitting competitive bids for acquisitions under the Oklahoma Central Purchasing Act. Specifically, it mandates that vendors provide a written verification agreeing to submit an annual affidavit to the Office of Management and Enterprise Services (OMES) disclosing any financial improprieties involving their executives, officers, directors, or investors. The first affidavit must accompany the bid, with subsequent affidavits due annually on January 1. Additionally, if any financial impropriety is confirmed in the affidavit, OMES is required to conduct an annual review of the vendor's financial practices and compliance with state regulations.

The bill also defines "financial impropriety" to encompass a range of dishonest, illegal, or unethical activities that could result in financial loss, including fraud, corruption, and embezzlement. This new legal framework aims to enhance transparency and accountability among vendors engaged in state contracts. The act is set to take effect on November 1, 2025.