PROVIDENCE – Legislation filed at the end of January would add Rhode Island to a proposed multistate compact that aims to offer large sums of prize money in exchange for a cure for deadly diseases.
The “Cure Bill,” 2020-H 7394, was introduced on Jan. 30 by House Majority Leader K. Joseph Shekarchi, D-Warwick, and co-sponsored by multiple state representatives.
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Rhode Island joins a number of states where similar legislation has been introduced. The bill originated in Ohio, which is the lone state so far to have passed it. The compact would be formed once six states sign the legislation into law.
In Rhode Island, the bill is in front of the Health, Education and Welfare Committee in the House.
“It’s been half a century since the world has seen a major disease [such as] polio actually cured,” Shekarchi said. “Since then, much of the development has focused on treatment. But actually curing a disease [such as] cancer would save millions of lives, end victims’ suffering and save untold billions of public and private dollars.
“This inter-state compact is an innovative, inventive means of creating an incentive that doesn’t cost taxpayers anything beyond what these diseases are costing us now,” he continued. “If it works and a prize is paid out, the prize comes from the money we would have been spending on the disease. And after five years, we benefit from enormous savings, as well as the cure. Joining this compact is a commitment without a risk, and the potential to do a tremendous amount of good.”
Prize money could potentially be in the multibillions, officials say. Amounts would come from money saved by compact member states in the first five years after the cure is discovered.
Diseases such as Alzheimer’s, cancer, Parkinson’s, HIV and diabetes are among those likely to be identified by the compact.
