Senate Bill No. 365 amends Oklahoma education law to clarify and expand definitions of educational positions, notably introducing the term "head coach" as the primary supervisor of school-sponsored athletic activities. It also refines the definition of "athletic trainer" to require certification from the National Athletic Trainers Association. Additionally, the bill updates references regarding school nurses to align with the State Board of Education's certification requirements. The State Board of Education is mandated to submit an annual electronic report to the Governor and Legislature on public school statistics, while also being granted authority to establish rules for the certification of educational personnel, including head coaches.

The bill further establishes the State Public Common School Building Equalization Fund to assist school districts and eligible charter schools in acquiring buildings, with redbud school grants serving a similar purpose as a building fund. The State Board of Education will disburse these grants annually and create rules for their implementation, determining grant amounts based on financial metrics. It clarifies the definition of eligible charter schools and outlines funding allocation for redbud school grants for fiscal years 2022 and beyond, allowing for additional funding from sales tax collections if necessary. The bill also includes provisions for transparency regarding grant recipients and is set to take effect on July 1, 2025, with an emergency clause for immediate implementation upon passage.