Relates to requiring a referenced rate for prescription drugs

Added 'Participating ERISA plan' and 'Participating ERISA plan' definitions, allowing private employer health plans to join the pilot program.

Changed the definition of 'prescription drug' to match the Penal Law instead of the Education Law, and updated 'wholesale acquisition cost' to match the Tax Law instead of federal law.

Updated the 'State entity' definition to explicitly exclude Medicaid, clarifying that the program applies to state agencies but not the federal Medicaid program.

Removed a provision allowing non-prescription drugs to be added to the preferred drug list under specific public health law criteria.

Reorganized the legislative findings section to include new points about rising state costs for public employee health care and the threat to public education funding.