The bill, known as the "Terry Peach Water Restoration Act," aims to establish a statewide program to manage and eradicate harmful woody species in Oklahoma's watersheds. It amends existing legislation by changing references from the "North Canadian Watershed" to "Water" and expands the definition of harmful woody species to include additional species such as Redberry juniper and honey mesquite. The Oklahoma Conservation Commission will administer the program, which includes cooperation with landowners and state agencies, measuring the density of harmful species, and utilizing funds for cost-sharing eradication efforts.

Additionally, the bill creates the "Water Restoration Revolving Fund" to support the program financially, allowing for the collection of various funding sources, including appropriations and grants. The fund will be used for the removal of harmful woody species that threaten grazing lands, wildlife habitats, and water flow in the state. The act is set to take effect on November 1, 2025.