House Bill No. 1124 amends the existing law regarding the Statewide Recovery Fund in Oklahoma. The bill modifies the composition of the fund by specifying that it will include all funds directed by the Legislature for appropriation or transfer, as well as all monies received by the state under the American Rescue Plan Act of 2021, excluding those dedicated to Nonentitlement Units of Local Government. Additionally, the bill clarifies that all interest and income generated from deposits to the Statewide Recovery Fund will be credited back to the fund.

The bill also removes references to the "Coronavirus Capital Projects Fund" from the previous law, streamlining the language related to the sources of funding for the Statewide Recovery Fund. The effective date for this amendment is set for November 1, 2025.