Bill No. 2518 establishes the "Base Infrastructure Needs and Development - Technology Revolving Fund" (BIND Technology Fund) within the Oklahoma Military Department. This fund is designed to be a continuous source of financing, not limited by fiscal year constraints, and will consist of all funds directed to it by law. The bill outlines that all funds in this revolving fund are appropriated for use by the Oklahoma Military Department, which will manage expenditures through the State Treasurer and the Office of Management and Enterprise Services.
Additionally, the bill creates the "Base Infrastructure Needs and Development Technology Program" (BIND Technology Program) within the Oklahoma Military Department. This program will utilize the funds from the BIND Technology Fund to invest in military infrastructure, including the purchase of licenses and software for military simulation training. The goal of these investments is to either reduce the risk of military base closures or enhance the potential for expansions of military infrastructure in Oklahoma. The act is set to take effect on July 1, 2025, and includes an emergency clause for immediate implementation upon passage.