4. a. The purpose of the New Jersey Puerto Rico Commission shall be to: advance bilateral trade and investment; initiate joint action on policy issues of mutual interest to New Jersey and Puerto Rico; promote business and academic exchanges between New Jersey and Puerto Rico; support Puerto Rico in its efforts to stabilize its economy; encourage New Jersey companies to invest in Puerto Rico’s infrastructure; and address such other issues as determined by the commission. In order to carry out its purposes, the commission shall establish subcommittees to examine the following issues.

Economic development, investment and trade.

Research, science, and technology. A priority of this subcommittee shall be to consider the desirability of re-establishing the bi-state commission created in the 1990s under the auspices of the HealthCare Institute of New Jersey to: (1) organize states that are dependent on life sciences industry clusters to protect and preserve a strong pharmaceutical industry in the United States; (2) coordinate joint applications for federal research and manufacturing innovation grants; and (3) create opportunities for university-based research and instructional collaborations.

Public policy advocacy. This subcommittee shall mobilize New Jersey institutions to join with other states in advocating for an infusion of resources into Puerto Rico to stop its economic downward spiral by: (1) making certain that Medicare/Medicaid services are funded at adequate levels and on an equal basis with other states in this country; (2) press for emergency education funding to prevent the deterioration of the island’s primary and secondary education systems; (3) support the PROMESA Fiscal Oversight Board in its determination to re-structure Puerto Rico’s debt; (4) support a restoration of the benefits provided by Section 936 of the federal tax code; and (5) promote federal funding to reconstruct all of the damaged infrastructure on the island.

Education.

Infrastructure.

Such other issues as deemed appropriate by the commission.

b. The commission shall report its findings and recommendations to the Governor, and the Legislature pursuant to section 2 of P.L.1991, c.164 (C. 52:14-19.1), within one year of its initial organizational meeting and by February 1st of each succeeding year for the activities of the preceding calendar year. The report shall be in writing and include such recommendations as deemed appropriate by the commission to effectuate its purpose, as provided by this section.

L.2019, c.284, s.4.