The bill proposes the establishment of the Rhode Island-Ireland trade commission, which is intended to be an advisory body consisting of seven members. These members will be appointed by the president of the senate, the speaker of the house, and the governor, with varying terms of service. The commission's purpose is to promote, enhance, and advance the relationship and trade between Rhode Island and Ireland. The commission will be responsible for studying and advancing analyses, proposals, and recommendations on various issues such as bilateral trade and investments, policy issues, business and academic exchanges, mutual economic support, infrastructure investments, and educational and economic opportunities between Rhode Island and Ireland.

The commission will operate without compensation but may be reimbursed for expenses incurred in the performance of their duties. It will meet and hold hearings, elect a chair, form subcommittees, and keep public records of proceedings. The commission is required to report its findings and recommendations annually to the governor, the speaker of the house, the president of the senate, and the secretary of commerce, including a financial statement of funds received and expended. Additionally, the commission is authorized to raise funds and accept gifts, grants, and bequests to support its administrative expenses and achieve its purposes. All meetings of the commission must comply with the state's open meetings laws. The act will take effect upon passage.