The bill proposes the establishment of the Ohio Israel Trade and Innovation Partnership, as outlined in the newly enacted section 122.1712 of the Revised Code. This partnership aims to enhance bilateral trade and investment between Ohio and Israel, address policy issues of mutual interest, facilitate business and academic exchanges, and promote mutual economic support and infrastructure investment. It will also focus on specific industries and emerging technology opportunities, as well as foster multilateral partnerships with other nations. The partnership will consist of various members, including appointed representatives from the Senate, House of Representatives, and the Governor, as well as ex-officio members from higher education and state development.

Additionally, the bill includes an appropriation of $5,000,000 for the Ohio-Israel Trade and Innovation Partnership for both fiscal years 2025 and 2026. This funding is designated to support the activities of the partnership as it works to fulfill its objectives. The partnership is required to meet regularly, elect a chairperson, and report its findings and recommendations to state leadership annually. Members will serve without compensation but may be reimbursed for expenses incurred in their duties.