1. Short title This Act may be cited as the 340B Reporting and Accountability Act . 2. Requirement to provide drug discounts to patients (a) In general Section 340B(a)(5) of the Public Health Service Act ( 42 U.S.C. 256b(a)(5) ) is amended— (1) in subparagraph (C), by striking subparagraphs (A) or (B) and inserting subparagraph (A), (B), or (E) ; (2) in subparagraph (D), by striking subparagraphs (A) or (B) and inserting subparagraph (A), (B), or (E) ; and (3) by adding at the end the following: (E) Requirement to provide drug discounts to patients A covered entity shall ensure that each patient who receives a covered outpatient drug from such covered entity is provided such drug at a price that does not exceed the price at which the covered entity purchased the drug in accordance with paragraph (1), less any additional discounts or rebates received by the covered entity with respect to the drug. . (b) Reporting requirements for drug discount program Section 340B(d)(2)(B) of the Public Health Service Act ( 42 U.S.C. 256b(d)(2)(B) ) is amended by adding at the end the following: (vi) (I) Not later than 1 year after the date of enactment of the 340B Reporting and Accountability Act , the development of procedures to require each covered entity to report to the Secretary, not less frequently than annually, information on— (aa) the total amount paid by the covered entity during the reporting period for covered outpatient drugs under subsection (a); (bb) the total amount received by the covered entity during the reporting period for such covered outpatient drugs; and (cc) if a covered entity receives any revenue as a result of charging a price for a covered outpatient drug that exceeds the price at which the covered entity purchased the drug, how the covered entity spent such revenue. (II) The Secretary shall make the information reported under subclause (I) publicly available. .