The use of see here derives from a long-established metonymy which makes the Subject of see a timespan—an age, or an era, or a century or decade—standing for everybody who was around during the timespan. The Direct Object of see is an event or development which occurred during the timespan, and therefore may be presumed to have been seen by everybody who was around during the timespan. TIMESPAN saw X is thus a literary way of saying X happened during TIMESPAN.
The Middle Ages saw a decrease in prosperity, stability and population in the first centuries of the period.
The first decade of the twentieth century saw the largest exodus of people from the former British West Indian Islands to the shores of the United States.
This is also commonly used with future timespans:
The next decade will see the job market continue to split along these lines.
The new year will see a changing of the guard in Brussels, with top posts at NATO and the major European institutions changing hands.
Common figurative expressions like this have a way of hardening into fixed phrases only very loosely connected to their original semantics. That is what has happened in your example. The author of that sentence has transferred the will see from this expression into a similar figurative expression, the bill/law/plan/&c contemplates X, meaning the authors of the bill have X in mind and intend the bill to effect X. They foresee that the bill will effect X, and it is no very great step from see to foresee.
This is slovenly writing, and I advise you not to emulate it.