The bill amends Section 2276.1 of the Oklahoma State Park Trust Fund, updating the terminology from "Trust Fund" to "trust fund" throughout the text. It authorizes the Oklahoma Tourism and Recreation Commission to utilize five percent of the principal of the trust fund annually for specific purposes, including the protection and conservation of state park lands, preservation of historic properties, and capital upgrades. Additionally, it allows the Commission to use up to $15 million from the trust fund for constructing and maintaining a lodge at Lake Murray State Park until June 30, 2020, and introduces a new provision permitting the use of up to $5 million for similar purposes from July 1, 2025, to June 30, 2030.

The bill also clarifies that the principal of the trust fund will consist of various revenue sources, including mineral lease payments and appropriations from the Legislature. It stipulates that income and investment returns on the trust fund principal will be allocated for the authorized purposes, explicitly prohibiting the use of these funds for administrative expenses of the Oklahoma Tourism and Recreation Department. The act is set to take effect on July 1, 2025, and includes an emergency clause for immediate implementation upon passage and approval.