The proposed bill establishes the Legislative Sunset Review Act, which aims to create a systematic process for reviewing state entities created by the Legislature. It introduces the Legislative Sunset Review Committee, responsible for evaluating these entities and recommending whether they should be continued, modified, or terminated. The committee will consist of key legislative leaders and additional members to ensure geographic representation. The bill outlines the responsibilities of the committee, including the creation of a review schedule, the requirement for reviewable entities to submit performance reports, and the conduct of public hearings to gather information and feedback.

Additionally, the bill repeals several obsolete provisions and eliminates the Legislature's Planning Committee. It specifies that any unspent appropriations from terminated entities will revert to the General Fund, and it ensures that the termination of a reviewable entity does not affect any pre-existing rights or obligations. The act is set to become operative on January 1, 2026, and aims to enhance the efficiency and accountability of state government operations.