House Bill No. 1465 amends existing laws regarding teacher pay computations in Oklahoma, specifically addressing the inclusion of military service in salary determinations. The bill introduces a definition for "military service," which encompasses various branches of the U.S. military, including the Air Force, Army, Coast Guard, Marine Corps, Navy, Space Force, and their reserve components, as well as the National Guard. It stipulates that time spent in military service during a national emergency can be counted for up to five years when calculating teacher salaries and Foundation Aid, but limits the credit for military service to a maximum of five years for eligibility or benefits under the Teachers' Retirement System.

Additionally, the bill updates the minimum salary schedule for certified personnel in Oklahoma public schools, ensuring that salaries and fringe benefits meet specified amounts based on years of experience and educational qualifications. It also clarifies that fringe benefits include retirement benefits, excluding certain contributions, and mandates that school districts notify teachers if their salary will fall below the minimum salary schedule due to retirement benefits. The act is set to take effect on July 1, 2025, and declares an emergency for its immediate implementation upon passage.