The resolution establishes a special committee known as the New Jersey Public Employee Health Care Program Costs Investigation Committee, which will consist of 14 members appointed by the Senate President and the Assembly Speaker. The committee is tasked with investigating the recent increases in premiums and charges for the State Health Benefits Program and School Employees Health Benefits Program, as well as the rationale behind these increases. It will also examine the contract with Horizon Blue Cross Blue Shield, including any disputes and allegations of interference from the Governor's Office regarding the contract negotiations.

The committee is empowered to conduct hearings, issue subpoenas, and gather evidence to fulfill its mandate. It will specifically look into the implementation of legislation related to health care program funding and oversight. Upon completion of its investigation, the committee is required to issue a report detailing its findings and recommendations for legislative and policy changes, particularly concerning future health care program contracts. The resolution takes effect immediately and will remain active until the committee's investigation concludes.