Senate Bill No. 554 amends existing laws regarding teacher certification and stipends in Oklahoma. The bill establishes new levels of teacher certificates—advanced, lead, and master—each associated with specific stipends funded by state lottery dollars. The advanced certificate will provide a stipend of $3,000, the lead certificate a stipend of $5,000, and the master certificate a stipend of $10,000. Additionally, teachers working in schools with a high percentage of economically disadvantaged students or in smaller districts will receive one-time awards in conjunction with these stipends. The bill also outlines the criteria for designating teachers for these certificates, which includes a combination of teacher observations, out-of-classroom time, and student performance measures.

Furthermore, the bill creates the Teacher Empowerment Revolving Fund to manage the financial aspects of these stipends, ensuring that funds are allocated to school districts on a first-come, first-served basis until the available cash is exhausted. The legislation specifies that the stipends will not be included in the calculation of a teacher's salary for minimum salary schedules or retirement benefits. The bill is set to take effect on July 1, 2025, with an emergency clause for immediate implementation upon passage and approval.