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, to recommend policies that limit spending growth while improving health outcomes for recipients.

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 provide the committee with necessary data. The committee will have the authority to access relevant records and compel testimony from state officials. It is also required to receive notifications and reports from the Agency regarding changes to Medicaid managed care capitation rates and other relevant information. The act is set to take effect upon becoming law.