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 appropriated state funds and private contributions. The Board is authorized to budget and expend these funds for the program, which includes awarding grants to eligible high school graduates who enroll in federally approved apprenticeship programs in technical trades. The bill outlines that the Board will set the criteria and process for grant applications, which will be evaluated on a statewide competitive basis.

Additionally, the bill mandates the Oklahoma State Board of Career and Technology Education to promulgate rules for the implementation of these grants. The effective date for this act is set for November 1, 2025.