The bill amends Section 2632 of Title 70 of the Oklahoma Statutes, which pertains to the eligibility criteria for the Oklahoma Tuition Equalization Grant. Key changes include an increase in the income eligibility threshold from $50,000 to $80,000 per year for students' parents, or the student's income if they are independent. Additionally, the language has been updated to clarify that eligible students must be residents of the state and enrolled as full-time undergraduates in approved institutions. The bill also specifies that grants will not be awarded for summer terms or intersessions and outlines the responsibilities of the State Regents in administering the grant program.

Furthermore, the bill mandates that the State Regents provide an annual report detailing the number of students awarded grants, their academic performance, and other relevant demographic data. It establishes that grants will be prioritized for students who have previously received them, and it sets a five-year limit on the duration of grant benefits. The act is set to take effect on July 1, 2026, and includes an emergency clause for immediate implementation upon passage and approval.

Statutes affected:
Introduced: 70-2632