This bill establishes a study committee tasked with examining the equitable division of property in divorce proceedings. The committee will consist of five members from the House of Representatives, appointed by the Speaker, including two from the Children and Family Law Committee, one from the Judiciary Committee, and two additional members. Additionally, two members from the Senate will be appointed by the President, with one also coming from the Children and Family Law Committee. Members will receive mileage compensation at the legislative rate while performing their duties.

The committee's responsibilities include reviewing current state laws regarding property division in divorce, comparing them with laws from other states, and suggesting legislative changes to address any identified issues. The committee will elect a chairperson and must hold its first meeting within 45 days of the bill's passage. A quorum will consist of three members, and the committee is required to report its findings and recommendations by November 1, 2026. The bill will take effect immediately upon passage.