The bill amends the existing law regarding the Statewide Recovery Fund in Oklahoma, specifically modifying its composition and the sources of its funding. It establishes that the fund will consist of all monies directed by the Legislature for appropriation or transfer, as well as funds received from the American Rescue Plan Act of 2021, excluding those dedicated to Nonentitlement Units of Local Government. Notably, the bill removes references to the "Coronavirus Capital Projects Fund" and clarifies the sources of funding from the American Rescue Plan.

Additionally, the bill stipulates that all interest and income generated from deposits to the Statewide Recovery Fund will be credited back to the fund itself. The effective date for this legislation is set for November 1, 2025.