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Committee hears amendment to PBM licensing provisions; sponsor to revise language after concerns
Summary
Members heard an amendment to PBM licensure provisions that reduces proposed per‑violation fines and removes a broad enforcement clause; lawmakers and department counsel agreed to correct drafting problems and return the amendment for future consideration after stakeholders and legal questions (including ERISA) were raised.
An amendment to PBM‑related licensure language drew sustained committee attention before the sponsor agreed to withdraw it for corrections and return it for later consideration.
Senator Hammer presented the amendment and introduced Booth Ray, general counsel for the Arkansas Insurance Department, who said the department negotiated with PBM trade groups to reduce a proposed monetary penalty from $10,000…
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