The bill proposes the termination of the Mediation and Arbitration Trust Fund within the State Courts System. It mandates that all remaining balances and revenues from this trust fund be transferred to the State Courts Revenue Trust Fund. Additionally, the bill requires the State Courts Revenue Trust Fund to settle any outstanding debts or obligations of the terminated fund as soon as practicable. The Chief Financial Officer is tasked with closing out and removing the Mediation and Arbitration Trust Fund from the state's accounting and financial systems, adhering to generally accepted accounting principles regarding assets, liabilities, and outstanding warrants.

The effective date for this act is set for July 1, 2025. The bill aims to streamline the financial management of the State Courts System by consolidating trust funds and ensuring that any remaining financial responsibilities are addressed promptly.