Bill No. 2154 amends the Oklahoma Charter Schools Act by introducing several key changes aimed at enhancing the operational framework for charter schools. Notably, the bill exempts charter schools from filing a written itemized statement of estimated needs and probable income from all sources, as previously required by Section 3002 of Title 68 of the Oklahoma Statutes. Additionally, it mandates that charter school governing boards approve a budget for the upcoming fiscal year before its commencement. These changes are intended to streamline financial reporting and budgeting processes for charter schools.

The bill also emphasizes compliance with various educational standards and operational requirements, including adherence to federal regulations and state laws regarding the education of children with disabilities. It maintains that charter schools must participate in state testing programs and comply with reporting and audit requirements similar to those of traditional public schools. The act is set to take effect on July 1, 2025, and includes an emergency clause for immediate implementation upon passage and approval.