The bill proposes the termination of the Mediation and Arbitration Trust Fund within the State Courts System. It mandates that all current balances and revenues from this trust fund be transferred to the State Courts Revenue Trust Fund. Additionally, the bill requires that the State Courts Revenue Trust Fund be utilized to settle any outstanding debts or obligations of the terminated fund as soon as practicable. The Chief Financial Officer is tasked with closing out the Mediation and Arbitration Trust Fund and removing it 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 obligations are promptly addressed.