The bill establishes the Interstate Podiatric Medical Licensure Compact, designed to improve healthcare access by allowing podiatric physicians to obtain licensure in multiple states through a streamlined process. This compact works alongside existing state licensing authorities, ensuring that podiatric physicians are licensed in the state where the patient is located during their encounter. Key provisions include definitions of terms such as "podiatric physician" and "expedited license," eligibility criteria for expedited licensure, and a coordinated information system for tracking licensed podiatric physicians. The compact also facilitates joint investigations and sharing of disciplinary information among member states, allowing for recognition and enforcement of disciplinary actions across state lines.

Additionally, the bill creates an interstate commission to oversee the compact's administration, comprising one voting representative from each member state. The commission is tasked with enforcing compliance, promulgating binding rules, and managing financial records. It has the authority to levy assessments on member states and establish committees for education and training. The compact includes provisions for dispute resolution, withdrawal conditions, and dissolution if membership falls to one state. It will take effect once enacted by at least four states, with nonmember states allowed to participate in commission activities on a nonvoting basis prior to full adoption.