The "Cure Act" proposes the establishment of a multistate compact in South Carolina aimed at incentivizing the development of cures for certain diseases through substantial cash prizes. It introduces a new Chapter 140 to Title 44 of the South Carolina Code of Laws, which creates the Cure Compact Commission. This commission will be responsible for reviewing treatment submissions, awarding prizes based on established criteria, and managing the compact's operations. Key provisions include defining eligible diseases, evaluating submissions, and outlining the financial responsibilities of member states, which may include issuing bonds to fulfill prize payments.

Additionally, the bill establishes a framework for the commission's operations, including record management, ethical standards for research, and public access to records. It mandates the formation of a management committee for daily operations, annual budgeting from member states, and conditions for withdrawal from the compact. The bill also provides immunity for commission members from liability related to their duties and stipulates that states defaulting on obligations may be expelled. The compact will remain active until only one state is left or the commission votes to dissolve it, at which point all obligations must be settled. The act will take effect upon the Governor's approval.