On or before December 31, 2021, the Board, in consultation with the Stakeholder Council, shall: Study: The entire pharmaceutical distribution and payment system in the State; and Policy options being used in other states and countries to lower the list price of pharmaceuticals, including: Setting upper payment limits; Using a reverse auction marketplace; and Implementing a bulk purchasing process; and Report its findings and recommendations, including findings for each option studied under item (1)(ii) of this section and any legislation required to implement the recommendations, to the Senate Finance Committee and the House Health and Government Operations Committee in accordance with § 2–1257 of the State Government Article.