Senate Bill No. 663 amends the existing law regarding the Workforce Coordination Revolving Fund by transferring its management from the Oklahoma Department of Commerce to the Oklahoma Workforce Commission. The bill 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 by law. Additionally, the bill removes the previous stipulation that any funds remaining in the Workforce Coordination Revolving Fund as of July 1, 2024, are considered obligated for workforce development initiatives.

The bill is set to take effect on July 1, 2025, and includes an emergency clause, allowing it to be enacted immediately upon passage and approval. This legislative change aims to streamline the management of workforce development funds and enhance the effectiveness of workforce initiatives in Oklahoma.