A. The Oklahoma Health Care Authority shall, in consultation with the Oklahoma State University College of Osteopathic Medicine and the University of Oklahoma College of Medicine, designate eligible hospitals for the creation of new residency training programs to serve medically underserved areas.

B. The Oklahoma Health Care Authority is authorized to contract with the Oklahoma State University of Osteopathic Medicine and the University of Oklahoma College of Medicine to provide funding for the establishment of new residency training programs created under the Oklahoma Hospital Residency Training Program Act.

C. The Oklahoma Health Care Authority shall, with the assistance of the Oklahoma State University College of Osteopathic Medicine and the University of Oklahoma College of Medicine, provide technical assistance and funding for the colleges' costs incurred in supporting the programs to ensure that residency training programs established pursuant to the Oklahoma Hospital Residency Training Program Act become funded by the Centers for Medicaid and Medicare Services. Any student who is a resident of this state or who is in good academic standing with an accredited medical college in this state shall receive priority consideration in the process of assigning clinical rotations at a health care facility that accepts state funding. For purposes of this section, “resident” means an individual who resided in this state at the time of graduation from an Oklahoma high school.

D. The Oklahoma Health Care Authority shall establish reporting mechanisms for eligible hospitals for the monitoring of progress of the new residency training programs.

E. The Oklahoma Health Care Authority shall present a report on the operation of the Oklahoma Hospital Residency Training Program to the Governor, the President Pro Tempore of the Senate, and the Speaker of the House of Representatives within one (1) month of the beginning of each regular session of the Legislature which shall include, but shall not be limited to, information on the progress made in implementing the Oklahoma Hospital Residency Training Program Act.