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 stipulates that no funds can be used for expenses that violate federal guidelines associated with the American Rescue Plan Act of 2021 or for projects not aligned with policies enacted by the Education and Economic Development Working Group.

Furthermore, the bill mandates that expenditures from the fund must be approved by a working group and outlines the process for claims to be filed for payment. It also declares that any remaining funds in the Workforce Coordination Revolving Fund as of July 1, 2024, are considered obligated for workforce development initiatives. An emergency clause is included, allowing the act to take effect immediately upon passage and approval.