The bill establishes the Oklahoma Regional Water District Act, which mandates the Oklahoma Water Resources Board to designate regional water districts by July 1, 2026. These districts will be responsible for developing regional water plans that address the management, conservation, and availability of water resources, particularly in response to drought conditions. The plans must include specific strategies for water management during various flow conditions and consider existing water rights and planning efforts. The Board is also tasked with providing guidelines and technical assistance to the districts, as well as facilitating conflict resolution between them.

Additionally, the bill amends existing laws to ensure that updates to the Oklahoma Comprehensive Water Plan and the state flood plan incorporate contributions from the newly formed regional water districts. It specifies that the Board must account for these districts in future updates and outlines the procedures for public participation in the planning process. The act will take effect on November 1, 2025, and includes provisions for the Board to enter into contracts with political subdivisions for funding regional water planning efforts.