The bill S.199 proposes the establishment of the Vermont Prescription Drug Discount Card Program, which will be administered by the Office of the State Treasurer. The program aims to pool prescription drug purchasing power among Vermont residents, other U.S. states, territories, and nongovernmental organizations to reduce prescription drug costs. The State Treasurer is authorized to negotiate discounts with manufacturers, centralize purchasing, and establish volume discount contracts. The bill also mandates the Treasurer to report annually on the program's activities, including participation rates and savings achieved.

Additionally, the bill creates the Vermont Prescription Drug Discount Card Program Fund to support the program, which will consist of appropriated funds, federal transfers, fees, and donations. The Treasurer will manage this fund and ensure that any unspent funds remain available for future use. The bill allocates $50,000 from the General Fund for the program's development and implementation in fiscal year 2027 and specifies that the act will take effect on July 1, 2026.