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Referenced Laws
42 U.S.C. 1395w–111
42 U.S.C. 1320f–1(a)
42 U.S.C. 1320f–3(c)(3)
Section 1
1. Short title This Act may be cited as the Strengthening Medicare and Reducing Taxpayer Prices Act or the SMART Prices Act.
Section 2
2. Repeal of the Medicare part D noninterference clause Section 1860D–11 of the Social Security Act (42 U.S.C. 1395w–111) is amended by striking subsection (i).
Section 3
3. Improvements to the Medicare Drug Price Negotiation Program Section 1192(a) of the Social Security Act (42 U.S.C. 1320f–1(a)) is amended— in paragraph (1)— by striking 10 and inserting 20; and by inserting and after the semicolon at the end; by striking paragraph (2) and redesignating paragraph (3) as paragraph (2); in paragraph (2), as redesignated by subparagraph (B) of this paragraph— by striking 2028, 15 negotiation-eligible drugs and inserting 2027 or a subsequent year, 40 negotiation-eligible drugs; and by striking ; and at the end and inserting a period; and by striking paragraph (4). Section 1192 of the Social Security Act (42 U.S.C. 1320f–1) is amended— in subsection (b)(2)— in the paragraph heading, by striking and 2027; and by striking and with respect to the initial price applicability year 2027; and in subsection (d)(1), in the matter preceding subparagraph (A), by striking or 2027. Section 1192(e)(1) of the Social Security Act (42 U.S.C. 1320f–1(e)(1)) is amended— in subparagraph (A)(ii), by striking 7 years and inserting 3 years; and in subparagraph (B)(ii), by striking 11 years and inserting 3 years. Section 1194(c)(3) of the Social Security Act (42 U.S.C. 1320f–3(c)(3)) is amended— in subparagraph (A), by striking 75 percent and inserting 76 percent; in subparagraph (B), by striking 65 percent and inserting 55 percent; and in subparagraph (C), by striking 40 percent and inserting 30 percent.