Senate Bill No. 538 amends existing laws regarding local bond elections in Oklahoma. It modifies the timing of special elections by allowing municipal governing bodies to call for these elections on state or federal election days in November, regardless of whether the year is odd or even. The bill also updates the language concerning the authority of the mayor to call special elections and specifies that the question of issuing municipal bonds can be included in these elections.

Additionally, the bill revises the procedures for education bond elections, stipulating that the board of education must call elections to be held on state or federal election days in November of odd or even-numbered years. It clarifies the roles of the board of education in issuing proclamations for school elections and establishes that the costs associated with these elections will be considered legal costs of the boards of education. The act is set to take effect on July 1, 2025, and includes an emergency clause for immediate implementation upon passage and approval.