The Oklahoma Research and Education Protection Act establishes new requirements for state educational institutions regarding the disclosure of gifts and contracts received from foreign sources, particularly those located in foreign adversaries. Under this act, institutions must report any gifts or contracts of any value from foreign sources, with specific deadlines for disclosures based on when the gifts or contracts were received. The disclosures must include detailed information such as the date, amount, purpose, and any applicable conditions of the gifts or contracts. Additionally, the Oklahoma State Regents for Higher Education are tasked with maintaining an online platform for public access to this information.

The act also empowers the State Regents to conduct audits of the use of disclosed gifts and contracts, and it authorizes the Attorney General to initiate civil actions against institutions that fail to comply with the act's requirements. If the Attorney General prevails in such actions, the institution may be required to cover the costs incurred during the legal process. The act is set to take effect on July 1, 2025, and includes provisions for emergency enactment to ensure immediate compliance and oversight.