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 fostering multilateral partnerships with other nations. The partnership will consist of various members, including state legislators, representatives from higher education, business organizations, and nonprofit corporations, with appointments made by legislative leaders and the governor.

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, which is required to report its findings and recommendations annually to the governor and legislative leaders. Members of the partnership will serve without compensation but may be reimbursed for expenses incurred in their duties. The bill emphasizes the importance of collaboration between Ohio and Israel in fostering economic growth and innovation.