The bill establishes the "Oklahoma Opportunity Scholarship Act of 2026," which is a new piece of legislation aimed at enhancing revenue and taxation in the state. It introduces a new section of law that will not be codified in the Oklahoma Statutes, thereby creating a distinct framework for the scholarship program without altering existing statutes.

Additionally, the bill specifies that it will take effect on November 1, 2026. This timeline allows for the necessary preparations and implementations to be made prior to the scholarship program's launch.