The proposed legislation, known as the Firearm Preservation Act, establishes new regulations regarding the handling and auctioning of firearms acquired by law enforcement agencies in Oklahoma. Under this act, firearms obtained through court-ordered turnover, estate settlements, or forfeiture cannot be destroyed or rendered inoperable. Instead, these firearms must be retained until they are lawfully auctioned to individuals eligible to purchase them, following required criminal history checks. Proceeds from these auctions will be allocated to the law enforcement agency for operational expenses and training, while ensuring compliance with state and federal regulations.

Additionally, the act provides legal protections for law enforcement agencies, stating they cannot be held liable for any harm resulting from the use of firearms auctioned under this law. Agencies conducting auctions are required to maintain detailed records of the firearms sold, including the purchaser's federal firearms license number, for a minimum of five years. Violations of these provisions will incur fines, with collected amounts directed to the General Revenue Fund. The act is set to take effect on November 1, 2026.