The bill amends Section 1 of Chapter 319 of the Oklahoma Statutes to modify the composition of the Statewide Recovery Fund. It establishes that the fund will consist of all monies appropriated or transferred by the Legislature, as well as funds received by the state under the American Rescue Plan Act of 2021, specifically excluding those dedicated to Nonentitlement Units of Local Government. Additionally, the bill stipulates that all interest and income generated from deposits to the Statewide Recovery Fund will be credited back to the fund.

The bill also includes a deletion of specific references to the "Coronavirus Capital Projects Fund" and "Coronavirus State and Local Recovery Funds" from the American Rescue Plan Act, streamlining the language regarding the sources of funding. The effective date for this act is set for November 1, 2025.