Establishes the 18 member Legislative Study Commission on Water Quality Cost Share, with specified membership, including members appointed by the President Pro Tempore of the Senate and the Speaker of the House of Representatives, to study the costs and benefits of improving water quality in reservoirs, rivers, and other water resources shared by local governments. Sets out issues to be considered by the Commission. Allows an interim report to the 2013 Regular Session of the General Assembly when it convenes in 2014 and requires a final report before the convening of the 2014 session. Terminates the Commission upon the earlier of filing of the report or January 1, 2015.

Appropriates $50,000 for 2013-14 from the General Fund to the General Assembly, to be allocated to the Legislative Services Office for the study.

Effective July 1, 2013.