The bill mandates a comprehensive study on the effects of private ponds on the state, focusing on aspects such as permitting, water rights, and strategies to mitigate negative impacts, including the introduction of invasive species and threats to wild fish and aquatic resources. The Water Policy Interim Committee is assigned the responsibility of conducting this study, which aims to gather data and insights that can inform future policy decisions regarding private ponds.

Additionally, the bill establishes specific reporting requirements for the findings of the study and includes an appropriation to fund the research. It also contains provisions for contingent voidness, meaning that certain conditions could render the bill ineffective, and it sets an immediate effective date along with a termination date for the study's mandate.