This bill expands regulation of conflicts of interest for members of the prescription drug affordability board. It requires that when appointing a member of the board or advisory council, the appointing authority must consider any conflict of interest disclosed by the prospective member. A member must elect to be recused from any board activity if they or an immediate family member or person with whom they are cohabitating have a conflict of interest. The bill also defines "conflict of interest" as an association that has the potential to bias an individual's decisions related to the board or its activities.

The bill also requires that board members or staff with a conflict of interest must elect to be recused. It defines "conflict of interest" as instances where a member or immediate family member has received or could receive a direct financial benefit from the results or findings of a study or determination by the board, or a financial benefit from individuals or companies that own or manufacture prescription drugs that exceeds $5,000 per year. Conflicts of interest must be disclosed by the board in certain circumstances and publicly posted on the board's website. The bill also prohibits the acceptance of gifts, bequests, or donations that suggest a conflict of interest or create bias in the work of the board or advisory council.

Statutes affected:
Introduced: 126-BB:3