The bill establishes the Office of Inspector General as an independent administrative agency within the state government, tasked with investigating the management and operations of state agencies to prevent and detect fraud, waste, abuse, and mismanagement of public funds. The office will be administratively assigned to the governor but will operate independently, with its jurisdiction and powers complementing those of the attorney general and other law enforcement agencies.

The bill includes definitions of key terms such as "abuse," "corruption," and "fraud," and establishes a fourteen-member independent commission responsible for appointing the inspector general, who will serve an eight-year term. The commission will create a selection process for the inspector general by interviewing candidates and submitting three nominees to the governor for appointment, subject to Senate confirmation.

The inspector general will have broad powers to receive and investigate complaints, conduct audits, issue reports on findings related to fraud, waste, and abuse, and instruct agencies on prevention measures. State agencies are mandated to cooperate with investigations, and the inspector general is authorized to employ certified police officers for criminal investigations.

The bill emphasizes the confidentiality of records and proceedings, stating that all records of the office shall be confidential unless disclosure is necessary for the performance of duties or required by court order. Violations of confidentiality provisions may result in penalties, including imprisonment or fines. The act will take effect upon passage, reinforcing the state's commitment to accountability and integrity in government operations.