This bill mandates the establishment of a Statewide essential buffer stock of medicines and medical supplies by the Department of Health, in collaboration with the State Office of Emergency Management. The buffer stock is intended for emergency preparedness and to prevent drug shortages during public health emergencies, outbreaks, or disasters, including natural and man-made events. The bill defines "essential buffer stock" as a reserve of emergency and chronic disease medications, vaccines, and medical supplies, and outlines the responsibilities of the Department of Health in terms of procurement, management, and distribution of these resources.

Additionally, the bill allows the Department of Health to contract with private entities for the procurement and management of the essential buffer stock, including a virtually sequestered buffer stock to ensure availability during emergencies. It requires the department to conduct demand planning and modeling to determine the necessary supplies and their distribution, particularly focusing on rural and medically underserved areas. The bill also appropriates necessary funds from the General Fund to support its implementation and allows the Commissioner of Health and the Director of the State Office of Emergency Management to adopt regulations as needed.