The bill amends the Oklahoma Workforce Commission's powers and responsibilities, specifically updating the statutory language to refer to the "Oklahoma Workforce Transformation Act." It expands the Commission's duties to include the development and implementation of programs aimed at addressing workforce needs, particularly in high-demand occupations. The Commission is authorized to utilize funds from a newly created "Oklahoma Workforce Commission Revolving Fund," which will consist of various sources of funding, including appropriations and donations. The bill also mandates the Commission to create a public dashboard for workforce development data and to make recommendations to the Legislature for improving workforce programs.

Additionally, the bill outlines specific areas for program implementation, such as developing work-based learning opportunities and fostering innovation in public schools to support workforce success. The Commission is tasked with identifying the needs of higher education institutions and partnering for scholarship opportunities in critical workforce fields. The new revolving fund will allow the Commission to budget and expend resources without fiscal year limitations, ensuring ongoing support for its initiatives.