The proposed bill aims to enhance patient access to discounted medications and health care services in Washington by safeguarding the integrity of the federal 340B drug pricing program. It establishes new regulations that prohibit drug manufacturers from imposing restrictions on covered entities' ability to acquire and dispense 340B drugs, which are essential for low-income and uninsured populations. The bill outlines definitions related to the 340B program, including what constitutes a "covered entity" and the role of pharmacies in this context. It also emphasizes the importance of contract pharmacies in ensuring that patients can access necessary medications while allowing safety net providers to reinvest savings into community health services.

Additionally, the bill introduces reporting requirements for both covered entities and manufacturers participating in the 340B program. Covered entities must report various data points, including acquisition costs, payments received, and how savings are utilized for community benefits. Manufacturers are required to disclose information about price reductions and any instances of overcharging. The legislation also provides for civil penalties for violations and allows the attorney general to enforce compliance. Overall, the bill seeks to protect vulnerable patients and ensure that safety net providers can continue to deliver essential health services without undue restrictions from drug manufacturers.