Bill No. 2162, known as the "Terry Peach Water Restoration Act," aims to establish a statewide program for the removal and eradication of harmful woody species in Oklahoma's watersheds. The bill amends existing legal language to replace references to the "North Canadian Watershed" with "Water" throughout the act, thereby broadening the scope of the program. It defines harmful woody species and outlines the responsibilities of the Oklahoma Conservation Commission in managing the program, which includes cooperation with landowners and state agencies, measuring species density, and developing grant programs for eradication efforts.

Additionally, the bill creates the "Water Restoration Revolving Fund" to support the program financially, allowing the Conservation Commission to utilize various funding sources for its initiatives. The fund is designed to be a continuous resource, not limited by fiscal year constraints, and will be used for activities related to the removal of harmful woody species across the state. The act is set to take effect on November 1, 2025.