House Bill No. 2743 amends Section 139 of Title 61 of the Oklahoma Statutes, which governs cooperative purchasing agreements for school districts and local public procurement units. The bill introduces a limitation on cooperative purchasing by explicitly stating that it shall not include new construction projects. Additionally, it mandates that all funds from cooperative purchasing agreements must be applied toward chargeables or direct administrative costs, prohibiting any entity from taking a percentage of the funds as profit. The bill also updates references to relevant acts and defines terms related to cooperative purchasing.

Furthermore, the bill clarifies the definitions of local public procurement units and external procurement units, while also providing a specific definition for new construction. It emphasizes that the obligations of state agencies to adhere to rules regarding statewide contracts remain intact. The act is set to take effect on July 1, 2025, and includes an emergency clause for immediate implementation upon passage and approval.