The bill S. 749 proposes the establishment of the "Prescription Medicine Study Committee" in South Carolina, tasked with examining and recommending innovative strategies to reduce the costs of critical prescription medicines for residents. The committee will focus on medications essential for managing chronic diseases such as diabetes, heart disease, and dementia, which significantly impact the health and financial stability of South Carolinians. It will evaluate current cost barriers, explore successful methods from other states and industries, and engage with consumers and stakeholders to gather insights. The committee is required to submit a report of its findings and recommendations to the General Assembly by December 31, 2026.

The committee will consist of various members, including chairs from relevant legislative committees, directors from state departments, and representatives from health plans and pharmacy benefits management companies, all appointed by the Governor. Members will elect a chair and vice chair and will meet promptly after their appointment. They will serve without compensation but may receive mileage and per diem as per state law. The committee will be dissolved after submitting its report unless reauthorized by a joint resolution. The bill will take effect upon the Governor's approval.