The bill establishes the Cowboy State Agricultural Trust Fund and outlines its administration, including the creation of the Cowboy State Agricultural Trust Fund Committee. The fund is intended to be a permanent trust, with the state treasurer responsible for its investment, aiming for a balance between risk-adjusted returns and safety. The committee will oversee the fund's expenditures, which are designated for various agricultural initiatives, including educational programs, workforce development, and value-added agricultural projects. The bill also stipulates that grants from the fund must be matched with non-state funds and requires annual reporting from grant recipients.

Additionally, the bill mandates the transfer of $10 million from the general fund to the newly created trust fund and appropriates $42,944 for the committee's administrative expenses. The committee will consist of various stakeholders from the agricultural sector and educational institutions, with appointments made by the governor. The bill includes provisions for the committee to develop grant application processes and ensure compliance with the law. The act is set to take effect on July 1, 2026, with certain sections becoming effective immediately upon the bill's passage.