NC S396

Enacts the "Solemn Covenant of the States to Award Prizes for Curing Diseases," a multi-state compact to incentivize development of disease cures through monetary prizes funded by compacting states.

Establishes the Solemn Covenant of States Commission upon enactment by six states, with one representative per compacting state and a management committee when 26 states join; requires two-thirds vote for prize approvals.

Requires Commission to identify at least 10 major diseases for prizes based on severity, survival rates, and public health costs; prize amounts equal five-year public health savings in all compacting states combined.

Prize winners must transfer patents and intellectual property to the Commission in exchange for the prize; compacting states pay annual amounts based on actual one-year public health savings beginning one year after cure becomes widely available.

Establishes dispute resolution procedures, financial accountability through independent audits, ethical standards aligned with all 50 states' laws, and allows states to withdraw with three years' notice while remaining liable for three years of prize obligations.