Prescription Drug Affordability Board; established.

The header was updated to show the bill is now an amendment proposed by the Senate Committee on Finance and Appropriations instead of Commerce and Labor.

The list of sections being added in the header was shortened, removing the reference to section 32.1-276.15 which was present in the previous version.

The document number in the header was changed from 26109394D to 26109533D.

A new section numbered 32.1-276.15 was added to the bill, which was not present in the original enrolled version. The bill's title was updated to include this new section.

The effective date for the provisions in subsections C through H of section 54.1-3431.1 was changed from January 1, 2027, to January 1, 2026.

The bill's title was updated to reflect the addition of the new section 32.1-276.15, changing the description from 'consisting of sections numbered 32.1-276.12, 32.1-276.13, and 32.1-276.14' to 'consisting of sections numbered 32.1-276.12 through 32.1-276.15'.

The entire section establishing the new 'Prescription Drug Affordability Board' (Sections 32.1-276.13 through 32.1-276.19) was deleted. This board was designed to set upper payment limits on prescription drugs.

The bill's primary focus shifted from creating a new regulatory board to amending the 'All-Payer Claims Database' (Section 32.1-276.7:1) and adding a new section (54.1-3431.1) related to an existing advisory panel.

Specific deadlines for appointing the new Board members and conducting affordability reviews (e.g., by March 1, 2027) were removed from the final text.

The definitions for 'Board', 'Stakeholder council', and related terms were removed as the new Board no longer exists in the final bill.

The final bill includes detailed requirements for the All-Payer Claims Database, such as collecting data from specific insurers and protecting patient privacy, which were not the focus of the Engrossed version.

The definition of 'Brand-name drug' was updated to reference 21 U.S.C. § 355(c) instead of § 355(b), correcting a citation to match the federal requirement for original applications.

The threshold for reporting generic drug price increases was changed from a 200% increase to a 150% increase, expanding the number of drugs subject to price transparency reporting.

A specific staggered schedule was added for appointing the initial members of the Prescription Drug Affordability Board and its stakeholder council, ensuring the board can begin work by October 1, 2026, regardless of delays in appointing council members.

Minor formatting and citation corrections were made throughout the text to align with standard legislative drafting practices.