The bill establishes the "Student Eviction Assistance Revolving Fund" within the Oklahoma State Treasury, aimed at providing legal representation for indigent tenants with children enrolled in public or private schools facing eviction. The fund will consist of appropriated state funds, federal funds, donations, and grants, and will be managed by the Oklahoma State Department of Education. The Department is tasked with allocating these funds to eligible organizations that provide legal services, with a focus on those serving families with students in pre-kindergarten through grade 12. To qualify for representation, individuals must be referred by their school district.

Additionally, the bill outlines the responsibilities of the Oklahoma State Board of Education in determining service areas and allocating funds based on poverty levels and chronic absenteeism rates in school districts. It defines "eligible organizations" as not-for-profit entities that provide legal assistance and have specific governance structures. The bill mandates that organizations maintain detailed financial records, undergo annual audits, and submit reports on expenditures to state officials. The act is set to take effect on November 1, 2026.