A bill for an act relating to pharmacy benefit managers and health carriers and management of prescription drug benefits, and including applicability provisions. (Formerly SF 347.) Senate File 563 creates two new chapters in the Iowa Code. New Iowa Code chapter 510C requires pharmacy benefit managers to annually report to the Commissioner of Insurance information about rebates and fees received, with the Commissioner posting nonconfidential information received to a publicly accessible website. New Iowa Code chapter 514M requires health carriers to reduce cost sharing requirements for prescription drugs for a covered person using a statutory formula. The Commissioner is directed to adopt rules to administer the new Code chapter and is given enforcement authority.