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 explore emerging technology opportunities and innovation clusters, as well as foster 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 fiscal years 2025 and 2026 to support the activities of the Ohio-Israel Trade and Innovation Partnership. The partnership is required to meet regularly, elect a chairperson, and report its activities and recommendations annually to the governor and legislative leaders. Members 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 various sectors, aiming to strengthen economic ties and innovation.