House Bill No. 1940 amends the Oklahoma Charter Schools Act to expand the types of entities that can sponsor charter schools. Specifically, the bill adds counties as potential sponsors, allowing them to sponsor charter schools alongside existing sponsors such as school districts, accredited institutions of higher education, and federally recognized Indian tribes. The bill also modifies the sponsorship criteria for charter schools that provide educational services to youth in the custody or supervision of the state or county, transitioning the responsibility from the State Board of Education to the Statewide Charter School Board starting July 1, 2024.

Additionally, the bill emphasizes the importance of prioritizing charter schools that serve at-risk student populations or those from low-performing traditional public schools. It outlines criteria for eligible non-school-district sponsors to consider when approving new charter schools, including evidence of academic success, a solid growth plan, and the ability to replicate successful practices. The act is set to take effect on July 1, 2025, and includes an emergency clause for immediate implementation upon passage and approval.