House Bill No. 1738 aims to amend public health and safety regulations by exempting public trust hospitals from the Oklahoma Open Meeting Act and the Oklahoma Open Records Act under specific circumstances. The bill allows these hospitals to enter into joint ventures with not-for-profit entities without subjecting them to the aforementioned transparency laws. It also establishes that any proprietary information related to marketing plans, financial statements, and trade secrets will remain confidential unless consent for disclosure is provided by the entity involved. Additionally, the bill permits executive sessions to discuss such confidential materials, while explicitly stating that budgetary information related to appropriations will not be exempt from public access.

The legislation defines "public trust hospital" as any hospital created under specific sections of the Oklahoma Statutes and includes provisions for codification. The effective date for this act is set for November 1, 2025. Overall, the bill seeks to balance the operational needs of public trust hospitals with the requirements for transparency in government operations.