This bill amends Section 683.24 of Title 63 of the Oklahoma Statutes, which pertains to the Emergency Management Disaster Relief Matching Fund. The amendment establishes a special fund within the State Treasury for the Oklahoma Department of Emergency Management, designated as the Emergency Management Disaster Relief Matching Fund. This fund is intended to be a continuous fund, not limited by fiscal year constraints, and will consist of appropriated or received monies. The fund will be used as the state's share of matching requirements for federal disaster relief funds and will not require legislative appropriation.

Additionally, the bill introduces a provision that specifies the state's share of matching requirements for federal funds will be equally shared between the state and any political subdivisions that receive public assistance resources from the Federal Emergency Management Agency (FEMA) following a federally declared disaster. The bill also declares an emergency, allowing it to take effect immediately upon passage and approval.