The bill proposes financial relief for Sidney Holmes, who was wrongfully incarcerated for 34 years for a crime he did not commit. It appropriates $1.722 million from the General Revenue Fund to compensate Mr. Holmes and directs the Chief Financial Officer to issue a warrant for this amount directly to him. Additionally, the bill waives tuition and fees for Mr. Holmes for up to 120 hours of instruction at designated educational institutions, provided he meets the necessary admission and academic requirements. The legislation also clarifies that it does not waive any defenses of sovereign immunity for the state and prohibits the use of awarded funds for attorney or lobbying fees.

Furthermore, the bill stipulates that upon receiving the compensation, Mr. Holmes cannot submit an application for compensation under existing statutes related to wrongful incarceration. It also states that if any future judicial determination finds Mr. Holmes involved in the armed robbery, any unused benefits under this act will be void. The act is set to take effect upon becoming law, acknowledging the significant damages Mr. Holmes suffered due to his wrongful conviction and the state's recognition of the flaws in the justice system that led to this outcome.