1. A. There is hereby created in the State Treasury a revolving fund for the Oklahoma Military Department to be designated the "Military Readiness, Innovation, Education, and Aviation Revolving Fund". The fund shall be a continuing fund, not subject to fiscal year limitations, and shall consist of all monies directed for deposit to the fund by law. All monies accruing to the credit of said fund are hereby appropriated and may be budgeted and expended by the Oklahoma Military Department for the purpose established in subsection B of this section. Expenditures from said fund shall be made upon warrants issued by the State Treasurer against claims filed as prescribed by law with the Director of the Office of Management and Enterprise Services for approval and payment.

2. B. There is hereby established within the Oklahoma Military Department the "Military Readiness, Technology, Education, and Innovation Program". The Department shall utilize funds from the Military Readiness, Innovation, Education, and Aviation Revolving Fund created in subsection A of this section, alone or in combination with other available funding, to make infrastructure, equipment, or technology investments, including, but not limited to, the purchase of licenses and software associated with military simulation training, improved access onto or off a military facility, construct or improve common education facilities located on military bases, or to grow local industries that will either:

   1. 1. Decrease the likelihood of military base and other military infrastructure closures in this state; or
   2. 2. Increase the likelihood of military base and other military infrastructure expansions in this state.
3. C. In fiscal years where funds are expended from the Military Readiness, Innovation, Education, and Aviation Revolving Fund, the Oklahoma Military Department shall file a report within forty-five (45) days after the close of the fiscal year with the Governor, the Speaker of the Oklahoma House of Representatives, the President Pro Tempore of the Oklahoma State Senate, the Appropriations and Budget Chair of the Oklahoma House of Representatives, and the Appropriations Chair of the Oklahoma State Senate, stating how the funds were used.

Laws 2025, HB 2518, c. 453, § 1, emerg. eff. July 1, 2025; Amended by Laws 2026, HB 4045, c. 43, § 1, emerg. eff. July 1, 2026 (superseded document available).