The bill amends various rules of the Ethics Commission in Oklahoma, specifically addressing political contributions and campaign activities. Key changes include the definition of "foreign national" and the prohibition of contributions from foreign nationals to political parties, political action committees, or candidate committees. The threshold for anonymous contributions is raised from $50 to $200, and unlimited committees advocating for state questions must confirm they have not received funds from foreign nationals. Additionally, the bill introduces new reporting requirements for political action committees, mandating detailed disclosures of contributions and expenditures, particularly for those involved in state questions.

Further amendments enhance privacy protections for donors to tax-exempt organizations, ensuring that investigations into violations protect donor identities and restrict public disclosure of donor information unless related to rule violations. The bill also specifies that contributions from limited liability companies and partnerships must be reported based on the ownership interests of their members or partners. An emergency clause is included, allowing the bill to take effect immediately upon passage and approval. Overall, these changes aim to improve transparency and accountability in political financing while ensuring compliance with federal regulations regarding foreign contributions.