H.R. 616 — Prescription Drug Affordability Act

Prescription Drug Affordability Act

To amend the Internal Revenue Code of 1986 with respect to the purchase of prescription drugs by individuals who have attained retirement age, and to amend the Federal Food, Drug, and Cosmetic Act with respect to the importation of prescription drugs and the sale of such drugs through Internet sites.

Summary

Prescription Drug Affordability Act - Amends the Internal Revenue Code to provide that, in the case of an individual who has attained Social Security retirement age, there shall be allowed a tax credit equal to 80 percent of the amount paid by the taxpayer (and not compensated for by insurance or otherwise) for any prescribed drug the individual uses.

Amends the Federal Food, Drug, and Cosmetic Act (FDCA) and the Medicine Equity and Drug Safety Act of 2000 to repeal certain drug reimportation provisions and authority for the importation of a prohibited drug required for emergency medical care. Permits a person who meets applicable legal requirements to be an importer of drugs to import (without regard to whether the person is a manufacturer of the drug) certain Food and Drug Administration-approved new drugs, which are neither adulterated nor misbranded, and which require a prescription, if the person submits an drug import application and the Secretary approves the application.

Prohibits the Secretary from taking any action under the FDCA with respect to the interstate sale of a prescription drug through an Internet site, if the sale was made in compliance with the FDCA and with applicable State laws, and accurate information regarding compliance with the FDCA and such State laws is posted on the site.

Legislative Actions

2003-02-05

Introduced in House

2003-02-05

Introduced in House

2003-02-05

Referred to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

2003-02-05

2003-02-12

Sponsor introductory remarks on measure. (CR E190)

2003-02-12

Referred to the Subcommittee on Health.

2003-02-14

Referred to the Subcommittee on Health.

Prescription Drug Affordability Act

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