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" to encompass emergency and chronic disease medications, vaccines, and medical supplies, and outlines the responsibilities of the Department of Health in creating guidelines for the 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 also requires the department to conduct demand planning and modeling to determine the necessary supplies for inclusion in the buffer stock, while maximizing federal and state funding for implementation. An appropriation from the General Fund is included to support the bill's provisions, which will take effect 180 days after enactment, although anticipatory administrative actions may be taken sooner.