The bill establishes the Joint Legislative Committee on Medicaid Oversight within the Office of the Auditor General, aimed at ensuring the state Medicaid program operates in alignment with legislative intent while promoting transparency and efficiency in government spending. The committee will consist of three members from the Senate and three from the House of Representatives, with specific provisions for membership terms, subcommittees, and meeting frequency. The committee is tasked with evaluating various aspects of the Medicaid program, including financing, quality of care, and operational functions, and is authorized to access relevant records and compel testimony as needed.

Additionally, the bill mandates that the Auditor General and the Agency for Health Care Administration enter into a data-sharing agreement by July 1, 2025, to facilitate the committee's work. The Agency is required to notify the committee of any changes to Medicaid managed care capitation rates and provide detailed reports on expenditures and trends. The committee is also empowered to submit periodic reports and recommendations to the Legislature regarding the Medicaid program and its associated policies.