This bill authorizes the Department of Insurance to engage in a cooperative procurement group through an intergovernmental agreement specifically for a prescription drug discount program. The participation in this program is contingent upon receiving approval from both the governor and the executive council.

Additionally, the bill establishes an effective date for the act, which is set for July 1, 2026. There are no deletions from current law noted in the text, as the bill introduces new legal language to facilitate this initiative.