The bill amends the existing law regarding the Workforce Coordination Revolving Fund by transferring its management from the Department of Commerce to the Oklahoma Workforce Commission. It establishes the fund as a continuing fund, not subject to fiscal year limitations, and specifies that it will consist of all monies directed for deposit from the Statewide Recovery Fund. The bill also appropriates these funds for the creation of a workforce data integration system, providing grants for critical workforce needs, and administering related projects.

Additionally, the bill imposes restrictions on the use of the funds, ensuring that no expenditures violate federal guidelines set forth by the American Rescue Plan Act of 2021 or are used for projects not aligned with policies enacted by the Education and Economic Development Working Group. Expenditures from the fund will require approval from the Office of Management and Enterprise Services. The bill declares an emergency, allowing it to take effect immediately upon passage and approval.