It used to be, way back when, until 2005 when the law was changed, that if the police wanted to indict a Member of Knesset for an alleged crime, they would issue the indictment and the MKs immunity would immediately take effect protecting the MK from prosecution. The Attorney General would have to go to the Knesset and request the removal of the MK's immunity.

In 2005 the law was changed. Since 2005, the Attorney General would issue the indictment, after which the MK has the ability to request from the Knesset immunity - within 30 days of the indictment. The Knesset, via a committee decision, will either grant or not grant immunity, depending on the circumstances.

MK Miki Zohar (Likud) wants to change the law back to the way it was before 2005. This would give the suspected MK extra protection from prosecution. As soon as the MK is indicted he or she would automatically be granted immunity from prosecution and the Attorney General has to go try to get the immunity removed. Additionally, the head of the committee would not be obligated to make a quick decision - whenever he or she feels like it he could have the committee meet and work on the issue and make a decision. With Miki Zohar being the current head of the committee, he would, should the law pass, not have the committee meet to remove Netanyahu's immunity until the Supreme Court might force him to.

The purpose of this law is to somewhat protect PM Benjamin Netanyahu from prosecution, in the various cases he is being investigated with possible indictments n the way. This would also somewhat protect other MKs under investigation, especially two other Likud MKs currently under investigation for other crimes.

Zohar says the purpose of his proposal is to protect public servants from political witch hunts.
source: Walla News and Maariv

As always, I am against new laws formed just to help or hurt a specific person. With this law being formed just to help Netanyahu, I consider it a bad law. The legal system and our democracy is not a toy in the hands of the lawmakers just to help their friends and hurt their enemies. If the would would be proposed with a clause stating it would not be applied to any current MK already under investigation, that might be another story.