Senate Bill No. 554 amends existing laws regarding teacher certification and stipends in Oklahoma. The bill introduces new stipends for advanced, lead, and master teacher certificates, replacing previous salary increase requirements with specific stipend amounts 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 in economically disadvantaged schools or small districts will receive one-time awards on top of these stipends. The bill also outlines the evaluation process for designating teachers for these certificates, emphasizing local control and flexibility for school districts.

Furthermore, the bill establishes the Teacher Empowerment Revolving Fund, which will be used to allocate funds for the stipends associated with the advanced, lead, and master certificates. The funding will be distributed on a first-come, first-served basis until exhausted for the school year. The bill also clarifies that stipends will not be included in salary calculations for minimum salary schedules or retirement contributions. The act is set to take effect on July 1, 2025, with an emergency clause for immediate implementation upon passage and approval.