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 that the state's matching requirements for federal disaster relief funds will be equally shared between the State of Oklahoma and the political subdivisions that receive resources from the Public Assistance Program administered by the Federal Emergency Management Agency (FEMA) following a federally declared disaster. The fund is designated as a continuing fund not subject to fiscal year limitations and is intended to support the state's share of matching requirements for federal disaster relief.

The bill also declares an emergency, allowing it to take effect immediately upon passage and approval, with an official effective date set for July 1, 2026. This urgency underscores the importance of the provisions in ensuring timely support for disaster relief efforts in Oklahoma.