Prohibits a shareholder, director or officer of a professional corporation organized for the purpose of practicing medicine, or a professional corporation organized for the purpose of allowing physicians, physician assistants and nurse practitioners to jointly render professional health care services, from participating in managing the professional corporation, or voting shares in the professional corporation on any issue or corporate action that bears on the ownership, management or governance of the professional corporation, if the shareholder, director or officer is simultaneously a shareholder, director, member, officer or employee of a management services organization with which the professional corporation has a contract.

Repeals provisions authorizing Oregon Health Authority to review material change transactions proposed between health care entities.

Adds payers to cost growth benchmark oversight. Changes name of Health Care Cost Growth Target program to Premium Cost Growth Target program. Changes name of Health Care Cost Growth Target program to Premium Cost Growth Target program. Restricts scope of program to reducing growth in premium costs.

Delays penalties under Health Care Cost Growth Target program until 2026. Delays penalties under Health Care Cost Growth Target program until 2026. Sunsets January 2, 2027. Declares emergency, effective on passage.

Excludes certain costs from consideration as total health expenditures for purposes of Health Care Cost Growth Target program. Excludes certain costs from consideration as total health expenditures for purposes of Health Care Cost Growth Target program. Requires preparation of fiscal impact statement for measures expected to affect ability of state or health care entities to meet health care cost growth targets and include extent to which measure is expected to impact access to health care, health equity and overall health of residents of this state.

Establishes Office of Health Care Affordability and transfers to office functions of Oregon Health Authority related to containment of health care costs.