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GA SB484
Bill
Status
Engrossed
3/12/2020
Primary Sponsor
Kay Kirkpatrick
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AI Summary
- Georgia would enter the "Solemn Covenant of the States to Award Prizes for Curing Diseases," a multistate compact that incentivizes the development of disease cures through large financial prizes funded by the estimated five-year public health savings across all compacting states
- The compact becomes binding when two states enact it, but the Solemn Covenant of States Commission is established only after six states join; each compacting state is represented by one member on the commission
- The commission must identify at least ten major diseases for prizes, establish cure criteria (including FDA approval and less than one year of treatment), and require prize winners to transfer all related patents and intellectual property to the commission in exchange for the award
- Prize amounts equal the estimated total five-year public health expense savings across all compacting states for a given disease, plus charitable donations; each state pays annually based on its actual one-year savings in public health expenses until its share is fulfilled
- The commission may collect royalty fees from noncompacting states and foreign countries (capped at estimated five-year public health savings), and compacting states may withdraw only after repealing the compact law and providing at least three years' written notice
Legislative Description
Health; Solemn Covenant of the States to Award Prizes for Curing Diseases; adopt
Last Action
House Second Readers
6/15/2020
Full Bill Text
No bill text available