NY A01265

Creates an interstate compact called the "Solemn Covenant of the States to Award Prizes for Curing Diseases" that establishes a commission once six states enact the compact

Awards cash prizes to researchers who develop cures for at least 10 major diseases, with prize amounts based on the estimated five-year public health expense savings across all compacting states

Requires prize winners to transfer patents and intellectual property rights to the commission in exchange for the prize, allowing the commission to manufacture and distribute cures at cost to member states

Compacting states pay their share of prizes annually based on actual one-year savings in public health expenses for each cured disease, with payment responsibilities continuing until the total prize obligation is fulfilled

Authorizes the commission to collect royalty fees from non-compacting states and foreign countries for access to cures, with fees capped at estimated five-year public health savings for that jurisdiction