This bill establishes a framework for the annual transfer of funds from the permanent school funds to the Oklahoma State Regents for Higher Education, specifically to support concurrent enrollment programs for eligible high school students, beginning in the fiscal year ending June 30, 2027. The Oklahoma State Regents will determine the necessary funding amount based on the performance of revenues generated by the permanent school fund. Additionally, the bill creates a "Concurrent Enrollment Revolving Fund," which will include bonuses and delay rental income received by the Commissioners of the Land Office, and ensures that this fund is a continuing fund not subject to fiscal year limitations. The bill also clarifies that the concurrent enrollment funds will not be included in the calculation of the Foundation Program Income for state apportionment purposes.

Moreover, the bill amends existing laws regarding the assessment of general fund balance penalties for school districts, specifying that federal revenue will not be included in these calculations. It allows districts thirty days to respond to penalty notifications and outlines exemptions for certain funding types. The bill also introduces provisions for advanced State Aid funding for early childhood programs, requiring districts to apply by September 15 each year. Monthly reporting requirements are established for state agencies regarding property valuations and tax collections, with the term "districts" replacing "district" in these requirements. The bill is set to take effect on July 1, 2026, with an emergency clause for immediate implementation upon passage and approval.