The bill amends Oklahoma's campaign finance and financial disclosure laws, specifically focusing on the Municipal, County, Technology Center District, and Independent School District Campaign Finance and Financial Disclosure Acts. A significant change is the transfer of responsibilities from municipal clerks and county election boards to the Ethics Commission, which will now oversee the filing of statements of organization, reports of contributions and expenditures, and statements of financial interests. The bill also modifies definitions related to campaign and political committees, removes the notarization requirement for certain documents, and eliminates a previously required processing fee for filing. Furthermore, it ensures that all statements and reports filed with the Ethics Commission are public records maintained for four years.

Additionally, the bill establishes enforcement mechanisms for the Ethics Commission, including procedures for accepting complaints about late filings and imposing penalties for non-compliance. It mandates that all candidates for school district office and elected officials file a statement of financial interests with the Ethics Commission, thereby standardizing the filing process and ensuring adherence to the same rules that apply to candidate committees for state office. These changes aim to enhance transparency and accountability in the election process for school district offices, with the act set to take effect on November 1, 2025.