The bill establishes the Oklahoma Commission on Race and Equality, which will consist of 13 members appointed by various state leaders, including the Governor, the President Pro Tempore of the Senate, the Speaker of the House of Representatives, and the Oklahoma Legislative Black Caucus. The bill outlines the terms of service for the members, stipulating initial and subsequent terms, as well as conditions for removal and filling vacancies. The Commission is tasked with advising on issues related to racial discrimination and bias, monitoring legislation for discriminatory effects, and serving as a resource for research and diversity in state appointments. Additionally, the Commission will meet at least quarterly and is required to submit an annual report on its activities.

To support the Commission's work, the bill creates the Oklahoma Commission on Race and Equality Revolving Fund within the State Treasury. This fund will consist of donations and gifts intended for the Commission's purposes and will be managed by the Office of Management and Enterprise Services. The bill specifies that the fund is a continuing fund, not subject to fiscal year limitations, and outlines the process for budgeting and expenditures from the fund. The act is set to take effect on November 1, 2026.