House Bill No. 2743 amends Section 139 of Title 61 of the Oklahoma Statutes, focusing on cooperative purchasing agreements among public agencies, particularly school districts. 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 these 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 specifying what constitutes new construction. It emphasizes that local public procurement units must comply with various procurement regulations, including the Oklahoma Central Purchasing Act and the Public Competitive Bidding Act of 1974. The act is set to take effect on July 1, 2025, and includes an emergency clause for immediate implementation upon passage and approval.