Bill No. 2516 establishes the "Base Infrastructure Needs and Development - Schools Revolving Fund" (BIND Schools Fund) within the Oklahoma Military Department. This fund is designed to be a continuing fund, free from fiscal year limitations, and will consist of all monies directed for deposit by law. The bill appropriates all funds accruing to the BIND Schools Fund, allowing the Oklahoma Military Department to budget and expend these funds for specific purposes related to infrastructure investments on military bases. Expenditures will be made through warrants issued by the State Treasurer, following claims approved by the Director of the Office of Management and Enterprise Services.

Additionally, the bill creates the "Base Infrastructure Needs and Development - Schools Program" (BIND Schools Program) within the Oklahoma Military Department. This program will utilize funds from the BIND Schools Fund to invest in infrastructure improvements, such as new construction and enhancements to common education facilities on military bases. The goal of these investments is to either reduce the risk of military base closures or to promote expansions of military infrastructure within the state. The act is set to take effect on July 1, 2025, and includes an emergency clause for immediate implementation upon passage and approval.