This bill establishes a standing appropriation for pediatric cancer research at the University of Iowa Hospitals and Clinics. Starting from the fiscal year beginning July 1, 2025, and for each subsequent fiscal year, the bill mandates that a dollar amount equal to the state's population on July 1 of that fiscal year, as estimated by the United States Census Bureau, be appropriated from the general fund of the state to the state board of regents.

Additionally, the bill requires the state board of regents to provide an annual report to the governor and the general assembly by October 1, detailing the expenditures of the allocated funds from the previous fiscal year. This ensures transparency and accountability regarding the use of state funds for pediatric cancer research.