The bill amends the Oklahoma Housing Authorities Act by updating definitions and statutory references within Section 1054. Key changes include the replacement of the term "this act" with "the Oklahoma Housing Authorities Act" to clarify the context of the definitions. The definitions of various terms such as "Authority," "City," "County," and "Governing body" have been modified for clarity and precision. Additionally, the bill introduces new criteria for the "Area of operation," allowing city or county housing authorities to undertake construction or rehabilitation projects anywhere in the state, provided they consult with relevant local authorities.

Other significant updates include the redefinition of "Persons of low income," which now specifies that income guidelines must align with those set by the United States Department of Housing and Urban Development. The bill also revises the definitions of "Bonds," "Real property," and "Obligee of an authority," ensuring they are consistent with the updated statutory framework. Overall, the amendments aim to enhance the effectiveness and clarity of the Oklahoma Housing Authorities Act, facilitating better housing solutions for low-income residents.