The bill amends the Tulsa Reconciliation Education and Scholarship Program to expand eligibility and modify various criteria for scholarship applicants. It allows scholarships to be awarded not only to residents of the Tulsa School District but also to qualified students from any public school district in the United States who are direct lineal descendants of individuals impacted by the 1921 Tulsa Race Massacre. The income limit for applicants has been increased from $70,000 to $125,000, with no income limit for direct lineal descendants. The bill also removes certain eligibility criteria, such as the requirement to attend a specific type of school, and mandates that the Oklahoma State Regents for Higher Education prioritize applicants who are direct lineal descendants.

Additionally, the bill establishes a community advisory committee to assist in the selection process for scholarship recipients and outlines the composition and appointment of its members. It requires the application form to include specific language regarding the applicant's lineage and modifies the process for verifying documentation of lineage. The bill also clarifies the scholarship award process, allowing remaining funds to be used for additional educational costs beyond tuition, such as fees and textbooks. An emergency clause is included, allowing the act to take effect immediately upon passage and approval.