House Bill 2270, also known as Senate Bill 2061, proposes the establishment of a new fund within the state treasury called the "children's digital protection fund." This fund will receive moneys from the resolution of legal claims related to the impact of social media and digital technology on the mental health and wellbeing of minors. The attorney general will determine the net recovery amount from these claims, which will be deposited into the fund. The funds are designated for various purposes, including mental health support for minors, research on the effects of technology, law enforcement resources, education on the impact of social media, and suicide prevention initiatives.

Additionally, the bill outlines that the funds must be appropriated by the general assembly and can be invested by the state treasurer, with any interest earned credited back to the fund. The act also includes a severability clause, ensuring that if any part of the law is deemed invalid, the remaining provisions will still be enforceable. The bill is set to take effect upon becoming law, emphasizing the importance of protecting children's mental health in the digital age.