Bill No. 2749 establishes the Intergenerational Education Revolving Fund within the Oklahoma Health Care Authority, aimed at enhancing intergenerational education programs in nursing facilities and public schools. The fund will be a continuous source of financing, not limited by fiscal year constraints, and will consist of all legally directed deposits. The Oklahoma Health Care Authority is tasked with budgeting and expending these funds to support a competitive grant program designed to improve nursing facilities and expand intergenerational education initiatives. The bill outlines the procedures for grant eligibility, application processes, and the establishment of minimum standards for facilities seeking funding.

Additionally, the bill allows for grant awards to be issued as rate adjustments to qualifying nursing facilities participating in Oklahoma's Medicaid Program, with a stipulation that total awards cannot exceed the funds available in the Revolving Fund. The Oklahoma Health Care Authority is also empowered to create necessary rules and policies for the implementation of the program. The act is set to take effect on July 1, 2025, and includes an emergency clause for immediate enforcement upon passage and approval.