IowaBio Bill Tracker - April 19, 2019
The legislature focused on moving Ways and Means and Appropriations bills this week, along with debating a slew of policy bills. The 110th and scheduled final day of session is May 3, and all signs point to an on-time or slightly early adjournment. All budget bills, including the standings bill, which is usually the last bill passed during session, are filed and moving. Thursday, Republicans agreed on an overall budget target of $7.643 billion, resolving the overall $50 million dollar budgetary difference between the chambers. Now, appropriations subcommittee negotiation on individual budget line-items will follow, giving a path to adjournment.
The Senate Ways and Means Committee moved SF631, a bill containing tax cleanup and language expanding the R&D tax credit to include “agricultural animal production” and clarifies that agriscience is also eligible for the credits; however, the House tax cleanup bill HF779, which moved out of committee this week, does not include the “agricultural animal production” language.
The Biofuels tax bill SF628 IowaBio supports to extend and modernize the current Iowa tax differentials for ethanol and biodiesel blended fuels moved out of Senate Ways and Means this week. The current differentials will expire on June 30, 2020. The bill also shifts focus to E15 or higher ethanol blends, rather than E10. Procedurally the bill still has a long way to go, because the House does not have a companion bill. That means the bill must move out of the Senate and then through House Ways and Means before being debated in the House.
PBM transparency legislation, SF563, passed the House 100-0 with an amendment to ensure that plans in place during 2019 are covered in the annual reporting to the Insurance Commissioner. The Senate accepted this amendment, and the bill now goes to the Governor. The bill requires each pharmacy benefit manager to provide a report annually by February 15 to the Commissioner that contains all of the following information regarding prescription drug benefits provided to covered persons of each health carrier with whom the pharmacy manager has contracted during the prior calendar year:
a. The aggregate dollar amount of all rebates received by the pharmacy benefit manager.
b. The aggregate dollar amount of all administrative fees received by the pharmacy benefit manager.
c. The aggregate dollar amount of all health carrier administrative service fees received by the pharmacy benefit manager.
d. The aggregate dollar amount of all rebates received by the pharmacy benefit manager that the pharmacy benefit manager did not pass through to the health carrier.
e. The aggregate amount of all administrative fees received by the pharmacy benefit manager that the pharmacy benefit manager did not pass through to the health carrier.
f. The aggregate retained rebate percentage as calculated by dividing the dollar amount in paragraph “d” by the dollar amount in paragraph “a”.
g. Across all health carrier clients with whom the pharmacy manager was contracted, the highest and the lowest aggregate retained rebate percentages.
Congressman Dave Loebsack announced his retirement, and political speculation is swirling around which democrats and republicans will run to take his place, representing the second congressional district.