SB 486-FN is a bill that establishes the physician assistant licensure compact, allowing for the mutual recognition of a physician assistant's license by participating states. The bill outlines the requirements for participating states, including licensing and disciplining physician assistants, implementing a criminal background check requirement, and complying with the rules of the compact commission. It also establishes the PA Licensure Compact Commission as a joint government agency and outlines its powers, duties, and meetings. The bill provides qualified immunity, defense, and indemnification for members of the commission and establishes a coordinated data and reporting system for licensed PAs and applicants in participating states. The bill also grants rulemaking powers to the commission and includes provisions for default, termination, dispute resolution, enforcement, and legal action against the commission. The compact will come into effect once it is enacted into law in the seventh participating state and can be amended by the participating states. The bill will take effect 60 days after its passage.