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91_HB2634
LRB9100421SMdv
1 AN ACT to create the Pharmaceutical Drug Price Cap Act.
2 WHEREAS, The prices of pharmaceutical drugs are vastly
3 oustripping the rate of inflation; and
4 WHEREAS, The excessive pharmaceutical drug price
5 increases impose a severe burden on fixed-income individuals,
6 particularly senior citizens and uninsured individuals;
7 therefore
8 Be it enacted by the People of the State of Illinois,
9 represented in the General Assembly:
10 Section 1. This Act may be cited as the Pharmaceutical
11 Drug Price Cap Act.
12 Section 5. Limit on retail price increases for
13 pharmaceutical drugs. Annual retail price increases for
14 pharmaceutical drugs in Illinois shall be limited to a rate
15 of 5% for a period of 5 years from the effective date of this
16 Act.
17 Section 99. Effective date. This Act takes effect
18 January 1, 2000.