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 Board is authorized to budget and expend these funds to facilitate the program, which includes issuing grants to cover tuition and fees for eligible high school graduates enrolling in federally approved apprenticeship programs in technical trades.

The bill outlines that the Oklahoma State Board of Career and Technology Education will award grants based on the availability of funds, with a focus on students enrolling in programs designated by Joint Apprenticeship & Training Committees. The Board is responsible for establishing the criteria and process for grant applications, which will be evaluated on a competitive statewide basis. Additionally, the Board is tasked with creating rules for the implementation of these grants. The act is set to take effect on November 1, 2025.