AN ACT to create and enact four new sections to chapter 26.1-27.1 of the North Dakota Century Code, relating to pharmacy benefits managers and a pharmacy benefit manager enforcement fund; to amend and reenact subsection 1 of section 26.1-01-07, sections 26.1-27.1-01, 26.1-27.1-02, 26.1-27.1-04, 26.1-27.1-06 and 26.1-27.1-07 of the North Dakota Century Code, relating to pharmacy benefits managers; to repeal section 26.1-27-01.1 and chapter 26.1-36.10 of the North Dakota Century Code, relating to pharmacy benefits managers and prescription drug costs; to provide a penalty; to provide an appropriation; to provide for a transfer; to provide an effective date; to provide an expiration date; and to declare an emergency.

The definition of 'Covered individual' was renumbered and slightly reworded to clarify who qualifies under the bill.

The definition of 'Pharmacy benefits management' was expanded to include specific services like claims processing, formulary development, and rebate contracting.

The definition of 'Pharmacy benefits manager' was significantly changed to clarify who qualifies, including exclusions for self-funded plans and health carriers.

New licensing requirements were added requiring pharmacy benefits managers to obtain a certificate of registration before operating in the state.

New application requirements were added requiring pharmacy benefits managers to submit detailed information to the commissioner when applying for a license.

A class C felony penalty was added for operating as a pharmacy benefits manager without proper registration.

Bill number, page references, and formatting were updated to reflect the first engrossment version of the bill.