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. Institutions must report any gifts or contracts of any value received from these 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 database 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 grants the Attorney General the authority to initiate civil actions against institutions that fail to comply with the Act's requirements. If the Attorney General prevails in such actions, the state educational institution may be required to pay for the costs incurred in the legal proceedings. The Act is set to take effect on July 1, 2025, and includes provisions for emergency enactment to ensure its immediate implementation upon passage.