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. It transfers the responsibility for filing statements of organization, reports of contributions and expenditures, and statements of financial interests from municipal clerks and county election boards to the Ethics Commission. 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, allowing it to accept complaints regarding late filings and impose penalties for non-compliance. It mandates that all candidates for school district office and elected school district officers file a statement of financial interests with the Ethics Commission, standardizing the filing process across various levels of government. The act is set to take effect on November 1, 2025, following its passage in the Senate on March 12, 2025.