This bill amends various sections of the Oklahoma statutes concerning campaign finance and financial disclosure for municipalities, counties, and school districts. It mandates that campaign committees and political committees at all levels file their statements of organization and reports of contributions and expenditures with the Ethics Commission instead of local clerks. The bill also clarifies that statements of financial interests must be submitted to the Ethics Commission, which will maintain these documents as public records for four years and is authorized to post them online for public access. Additionally, the bill introduces penalties for late filings, allowing the Ethics Commission to impose fines for non-compliance, thereby enhancing transparency and centralizing oversight under the Ethics Commission.

Furthermore, the bill establishes the "Technology Center District and Independent School District Campaign Finance and Financial Disclosure Act," updating relevant sections and definitions to align with the Rules of the Ethics Commission as per the Oklahoma Constitution. It specifically requires that all campaign committees and school district political committees file their necessary documents with the Ethics Commission rather than the school district clerk. The act is set to take effect on July 1, 2025, but includes an emergency clause for immediate implementation upon passage and approval.