A bill for an act relating to pharmacy benefits managers, pharmacies, and prescription drugs and including applicability provisions.

This bill regulates pharmacy benefits managers (PBMs) to increase transparency and fairness in prescription drug pricing. It prohibits PBMs from using "spread pricing" (charging insurers more than they pay pharmacies) and requires rebates from drugmakers to reduce patient out-of-pocket costs at the point of sale. The bill also bans PBMs from restricting patient choice of pharmacy, imposing unreasonable credentialing requirements, or limiting access to specialty drugs. These provisions directly affect PBMs, pharmacies, and patients by ensuring fair reimbursement and cost-sharing practices for prescription drugs.