The bill establishes the "Apprentice Scholarship Program Revolving Fund" within the State Treasury, aimed at supporting the Apprentice Scholarship Program managed by the Oklahoma State Board of Career and Technology Education. This fund will be a continuous source of financing, consisting of legislative appropriations and private contributions, and will not be limited by fiscal year constraints. The Oklahoma State Board of Career and Technology Education is authorized to budget and expend these funds to operate the scholarship program, with expenditures made through warrants issued by the State Treasurer.

Additionally, the bill mandates that the Oklahoma State Board of Career and Technology Education award grants to eligible high school graduates who enroll in federally approved apprenticeship programs in technical trades, contingent on the availability of funds. The Board will set the criteria and process for grant applications, which will be evaluated on a competitive statewide basis. The bill also requires the Board to create rules for the implementation of these grants. The act is set to take effect on November 1, 2025.