Senate Resolution S.R. No. 703, introduced by Parker, aims to suspend certain Senate rules to aid a conference committee in reconciling differences in Senate Bill 2308, which seeks to establish a consortium for conducting clinical trials on ibogaine as a treatment for opioid use disorder and other mental health conditions. The resolution allows the committee to make necessary amendments, such as updating definitions and reorganizing the bill for clarity, while also removing outdated provisions related to a grant program. The framework for the consortium must include a drug developer, an institution of higher education, and a hospital, which will be responsible for submitting proposals to the Health and Human Services Commission (HHSC) for conducting ibogaine drug development trials.

Furthermore, the resolution mandates that the HHSC verify matching funds from non-state sources before disbursing state funds to selected consortia. It specifies that only institutions of higher education or hospitals can serve as trial sites and requires consortium members to submit an investigational new drug application to the FDA. To ensure accountability, consortia must provide quarterly progress and financial reports to the HHSC, and revenue generated from intellectual property rights must allocate at least 20% to the state. The HHSC is also required to begin accepting proposals from consortia within 60 days of the resolution's effective date, thereby expediting the initiation of clinical trials for ibogaine.