Requires a state agency entering into an agreement with the manufacturer, distributor, or pharmacy benefit manager of any prescription drug to: (1) Ensure that the purchase price of the drug reflects all available rebates, cash discounts, volume discounts, donations, and other discounts or credits available to the agency; and

(2) In making this determination, consider the lowest price paid for the same drug by the United States department of veterans affairs and seek a price for the prescription drug that is the same as or less than the price paid by the department of veterans affairs.

Requires the office of financial management to provide a report to the legislative fiscal committees on: (1) The total dollar amount spent on prescription drugs during the previous fiscal year; and

(2) To the extent permitted by federal law, monthly costs of prescriptions, broken down by state agency or program.