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The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress, and was published on Jul 22, 2021.
Solving an Overlooked Loophole in Votes for Executives (SOLVE) Act
This bill establishes the Twentieth Amendment Section Four Panel, which must recommend to Congress model legislation to resolve any vacancy created by the death of a candidate in a contingent presidential or vice-presidential election. Such panel terminates 90 days after submitting its final report.
(The Twelfth Amendment to the Constitution requires that presidential and vice-presidential candidates gain a majority of electoral votes to win an election. In the event that no candidate wins a majority of electoral votes, the Twelfth Amendment requires the House of Representatives to elect the President and the Senate to elect the Vice President, which is known as a contingent election. The Twentieth Amendment to the Constitution allows Congress to establish a process in the case of the death of a candidate in a contingent presidential or vice-presidential election.)