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Pharmacy benefit managers (PBMs) — the companies that act as middlemen between insurance plans and pharmacies to determine drug reimbursement rates — would face new transparency and accountability requirements under this bill. PBMs would have to give pharmacies an electronic, searchable list of all drugs subject to maximum allowable cost pricing (including drug codes and prices), disclose the data sources used to set those prices, and update that pricing data weekly. The bill would also strengthen the appeals process for pharmacies disputing reimbursement rates by requiring dedicated contact channels, allowing appeals to be submitted electronically or on paper, and requiring PBMs that deny an appeal to explain why and show specifically where the drug can be purchased at or below the disputed price; if an appeal succeeds or the PBM can't prove the lower price is available, the pharmacy must be allowed to resubmit its claim without extra charge. Finally, the bill would replace the current general insurance penalty with a specific enforcement structure, letting the Insurance Commissioner fine a PBM up to $2,500 per day for each ongoing violation of these rules, and it would give the Insurance Department authority to write rules implementing these requirements.