AN ACT RELATING TO STATE AFFAIRS AND GOVERNMENT -- THE RHODE ISLAND HEALTH CARE REFORM ACT OF 2004 -- HEALTH INSURANCE OVERSIGHT

Summary

The bill requires manufacturers of prescription drugs flagged by the Institute for Clinical and Economic Review as having unsupported price hikes to pay a penalty. Companies with at least $250,000 in annual state sales must report sales and pay up to 80% of the excess revenue, adjusted for inflation, for two years. Collected money is used to fund enforcement and then goes to the state’s general fund.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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