This bill establishes new regulations regarding public finance in relation to major economic development projects in Oklahoma. It defines key terms such as "major economic development project," "political subdivision," and "public revenue." The bill prohibits state or local governments from making payments to private entities involved in such projects without prior disclosure of the entities' identities. Additionally, it mandates that any use of public funds related to these projects must also adhere to the same disclosure requirements.

Furthermore, the bill requires that the disclosure of the benefiting entities be made at least sixty days before any payments or public revenue sources are made available. It also stipulates that the state or political subdivisions must create or utilize a website to ensure that this information is easily accessible to the public. The act is set to take effect on November 1, 2026.