AR HB1396

Establishes the Health Care Compact, an interstate agreement allowing member states to regulate health care independently and suspend conflicting federal laws, rules, and regulations within their borders.

Becomes effective upon adoption by at least two member states and approval by the United States Congress, provided Congress does not alter the compact's fundamental purposes.

Sets Arkansas's preliminary base federal health care funding level at $8,727,000,000 (federal fiscal year 2010) and entitles member states to annual federal funding equal to their calculated current year funding level as mandatory spending.

Creates the Interstate Advisory Health Care Commission composed of members appointed by each member state (maximum two per state) to study health care regulation issues, make nonbinding recommendations, and collect comparative health care data while protecting individual health information.

Allows member states to withdraw with six months' notice and permits unanimous amendments by member states without prior Congressional consent, with Congress having one year to disapprove amendments.