ND HB1042

Amends North Dakota Century Code section 54-52.1-04.16, subsection 3, regarding pharmacy benefit manager contracts for the Public Employees Retirement System's prescription drug coverage program.

Adds an exemption for Medicare Part D contracts from disclosure requirements that otherwise apply to pharmacy benefit manager contracts.

Requires pharmacy benefit managers to disclose all rebates and fees that generate income under their contracts, including income from related contracts with third parties such as drug manufacturers.

Mandates disclosure of pharmacy benefit manager income sources to both the retirement board and the board's auditor.

Passed with overwhelming bipartisan support: 90-0 in the House and 47-0 in the Senate.