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 appropriated funds are designated for creating a workforce data integration system, providing grants for critical workforce needs, and administering related projects. Additionally, the bill mandates that expenditures must comply with federal guidelines under the American Rescue Plan Act of 2021 and be approved by a working group.

Furthermore, the bill stipulates that any remaining funds in the Workforce Coordination Revolving Fund as of July 1, 2024, will be considered obligated for workforce development initiatives. An emergency clause is included, allowing the act to take effect immediately upon passage and approval, emphasizing the urgency of the changes to support workforce development in Oklahoma.