The bill seeks to enhance the regulation of public corruption in Oklahoma by amending existing laws and introducing new provisions aimed at increasing accountability among state officers and employees. Notably, it elevates the punishment for public officers involved in conflicts of interest from a misdemeanor to a felony, which also disqualifies them from holding public office. The legislation introduces penalties for the misuse of nonpublic government information, collusion among bidders, and mandates disclosures from bidders regarding any familial or business relationships with state agency employees. Additionally, it requires ethics training for newly appointed state officers and outlines grounds for removal from office for various forms of misconduct.

Furthermore, the bill defines key terms related to conflicts of interest, such as "private economic interest," which excludes interests in diversified retirement investment vehicles, and clarifies the definitions of "immediate family member" and "associated nongovernment entity." It prohibits state officers or employees from participating in official matters where their immediate family members or associated entities have a private economic interest, with violations resulting in felony charges. The bill mandates disclosures of potential conflicts of interest within thirty days and establishes a framework for handling these disclosures, including informing superiors and the Oklahoma Ethics Commission. Contracts entered into in violation of these provisions are deemed void, and the act is set to take effect on November 1, 2025.