There is a Prescription Drug Affordability Stakeholder Council. The purpose of the Stakeholder Council is to provide stakeholder input to assist the Board in making decisions as required under this subtitle. The Stakeholder Council consists of members appointed in accordance with this subsection. The Speaker of the House of Delegates shall appoint: One representative of generic drug corporations; One representative of nonprofit insurance carriers; One representative of a statewide health care advocacy coalition; One representative of a statewide advocacy organization for seniors; One representative of a statewide organization for diverse communities; One representative of a labor union; One representative of the rare disease community; One health services researcher specializing in prescription drugs; and One public member at the discretion of the Speaker of the House of Delegates. The President of the Senate shall appoint: One representative of brand name drug corporations; One representative of physicians; One representative of nurses; One representative of hospitals; One representative of dentists; One representative of oncologists; One representative of managed care organizations; One representative of the Department of Budget and Management; One clinical researcher; and One public member at the discretion of the President of the Senate. The Governor shall appoint: One representative of brand name drug corporations; One representative of generic drug corporations; One representative of biotechnology companies; One representative of for–profit health insurance carriers; One representative of employers; One representative of pharmacy benefits managers; One representative of pharmacists; One pharmacologist; One representative of a patient advocacy organization; and One public member at the discretion of the Governor. Collectively, the members of the Stakeholder Council shall have knowledge of the following: The pharmaceutical business model; Supply chain business models; The practice of medicine or clinical training; Consumer or patient perspectives; Health care costs trends and drivers; Clinical and health services research; or The State’s health care marketplace. To the extent practicable and consistent with federal and State law, the membership of the Stakeholder Council shall reflect the racial, ethnic, and gender diversity of the State. From among the membership of the Stakeholder Council, the Board chair shall appoint two members to be cochairs of the Stakeholder Council. The term of a member is 3 years. The initial members of the Stakeholder Council shall serve staggered terms as required by the terms provided for members on October 1, 2019. A member of the Stakeholder Council: May not receive compensation as a member of the Stakeholder Council; but Is entitled to reimbursement for expenses under the Standard State Travel Regulations, as provided in the State budget.