Establishes the ten member Joint Legislative Efficiency and Cost-Savings in State Government Study Commission (Commission) as title indicates. Directs the Commission to study any obsolete programs, cost-reduction opportunities in state government, and redirecting existing funds to meet demands for public services. Authorizes the Commission to require the submission of information from agencies, as detailed. Directs the Commission to make an interim report to the 2013 General Assembly and a final report in 2014, at which time the Commission will terminate.