House Bill No. 1512, introduced by Tedford, grants the Oklahoma Insurance Commissioner the authority to implement and manage an exchange related to the Patient Protection and Affordable Care Act (PPACA). This includes the ability to establish rules and apply for waivers under Section 1332 of the PPACA. The bill defines "exchange" as any state, federal, or partnership marketplace operating in Oklahoma in accordance with Section 1311 of the PPACA.

The bill is set to take effect on July 1, 2025, and includes a declaration of emergency, indicating its immediate necessity for the preservation of public peace, health, or safety. This legislation aims to enhance the state's ability to manage health insurance exchanges effectively and ensure compliance with federal regulations.