The bill amends Chapter 3, Title 41 of the Idaho Code by adding a new section, 41-351, which establishes reporting requirements for entities participating in the federal 340B drug pricing program. Under this new section, 340B covered entities must report specific information to the state department of health and welfare, the state controller's office, and the attorney general by April 1 each year. The required information includes the name of the entity, aggregate acquisition costs for prescription drugs, payments received for dispensed drugs, payments made to pharmacies, the number of claims, and how savings from the program are utilized, particularly for charity care or community benefits. The data must be reported by payer type, including commercial, Medicaid, and Medicare, and is deemed confidential.

Additionally, the state controller's office is tasked with preparing an aggregated report of the submitted data by November 15 each year, which will be submitted to the legislative council and made available on the Transparent Idaho website. The attorney general is authorized to use the reported information for investigating Medicaid fraud and ensuring compliance with health administration requirements. The bill declares an emergency, making it effective from July 1, 2025.