Bill No. 1405 amends Section 3-310 of Title 29 of the Oklahoma Statutes, which pertains to the Wildlife Diversity Fund. The bill reauthorizes the income tax checkoff for donations to the Oklahoma Wildlife Diversity Program, allowing taxpayers to donate from their tax refunds starting from tax year 2002 and for subsequent years. It updates statutory language, including the removal of references to tax years beginning after December 31, 2001, and replaces them with specific language regarding tax year 2002 and beyond. Additionally, the bill clarifies that the Oklahoma Wildlife Conservation Commission can invest funds from the Wildlife Diversity Fund in accordance with a written investment policy and the Oklahoma Uniform Prudent Investor Act.

Furthermore, the bill establishes a process for taxpayers who mistakenly make donations to claim refunds within three years of the tax return's due date. It specifies that any refunds issued will be deducted from the total donations received in the following year before the funds are allocated to the Wildlife Diversity Fund. The reauthorization of the income tax checkoff is set to take effect on January 1, 2027, and the overall act will become effective on November 1, 2026.