The bill, titled "Commission on Fiscal Restraint and Government Efficiency," establishes a commission tasked with reviewing and modernizing the structure and funding of state government in South Carolina to enhance efficiency and reduce costs for taxpayers. The commission will consist of nine voting members appointed by the President of the Senate, the Speaker of the House, and the Governor, with the Director of the Department of Administration serving as a nonvoting chair. Members will serve without compensation and will have the authority to engage staff and third-party consultants to assist in their duties.

The commission is mandated to conduct a thorough review of the state budget, identify areas for spending cuts, and assess regulations that may be burdensome to businesses and citizens. It must report its initial findings on spending reductions by October 1, 2025, and its comprehensive recommendations by October 1, 2026. The joint resolution includes a sunset provision, stating that it will be repealed on October 2, 2026, and will take effect upon the Governor's approval.