Drug Affordability Advisory Council elimination provision, various financial institutions and health plan provisions modifications, and appropriation

This bill eliminates the Prescription Drug Affordability Advisory Council and transfers its regulatory duties to the Commissioner of Commerce, while also adjusting funding between state departments. It establishes stricter rules for financial institutions and health plans, including new conflict-of-interest definitions and mandatory recusal procedures for officials reviewing drug products. Additionally, the legislation requires the state board to identify specific high-cost prescription drugs based on price increases, high absolute costs, or lack of affordable generic alternatives. The bill includes an appropriation of $1.75 million to the Commissioner of Commerce for these new responsibilities and corresponding budget reductions for the Department of Health.