Replaces everything after the enacting clause. Amends the Senior Citizens and Disabled Persons Property Tax Relief and Pharmaceutical Assistance Act. Replaces the provisions concerning the pharmaceutical assistance program. Effective January 1, 2006, provides for a new program of pharmaceutical assistance to the aged and disabled, entitled the Illinois Seniors and Disabled Drug Coverage Program ("the new program"), which shall be administered by the Department of Healthcare and Family Services and the Department on Aging. Provides that to become a beneficiary under the new program, a person must (1) be either age 65 or older or disabled, (2) be domiciled in this State, (3) enroll with a qualified Medicare Part D Prescription Drug Plan if eligible, and (4) have a maximum household income of less than specified amounts depending on household size. Provides that all individuals enrolled as of December 31, 2005, in the pharmaceutical assistance program under the Senior Citizens and Disabled Persons Property Tax Relief and Pharmaceutical Assistance Act and all individuals enrolled as of December 31, 2005, in the SeniorCare Medicaid waiver program operated under the Illinois Public Aid Code shall be automatically enrolled in the new program. Divides the new program beneficiaries into 4 "eligibility groups". Provides that the program shall cover the cost of covered prescription drugs in excess of the beneficiary co-payments ($2 for each prescription of a generic drug and $5 for each prescription of a brand-name drug) that are not covered by Medicare. Provides a new definition of "covered prescription drug" for purposes of the new program. Provides that any person otherwise eligible for pharmaceutical assistance under the new program whose covered drugs are covered by any other public program is ineligible for assistance under the new program to the extent that the cost of those drugs is covered by the other program. Sets forth conditions of participation in the new program for pharmacies. Amends the Senior Citizens and Disabled Persons Prescription Drug Discount Program Act. Changes the short title of the Act to the Illinois Prescription Drug Discount Program Act. Makes changes in the legislative findings. Provides that the prescription drug discount program is for "Illinois residents" instead of only senior citizens and disabled persons. Provides for administration of the Act by the Department of Healthcare and Family Services (successor agency to the Department of Public Aid) instead of the Department of Central Management Services. Changes the requirements that a proposal for administering the program must meet, including requirements that a proposal specify (i) the amount of the discount based on the average wholesale price of the covered medications and (ii) administrative fees charged by the administering entity. Eliminates provisions (i) setting forth limits on the amounts paid for medications by persons enrolled in the program and (ii) specifying the formula for calculating the amounts paid by the program administrator to pharmacies. Provides for a program enrollment fee to be determined by the Director of Healthcare and Family Services (instead of $25), and makes changes concerning collection of the enrollment fee. Provides that to be eligible to participate in the program, a person must be a resident of Illinois and must have household income equal to or less than 300% of the Federal Poverty Level. Eliminates a provision that any person who is eligible for pharmaceutical assistance under the Senior Citizens and Disabled Persons Property Tax Relief and Pharmaceutical Assistance Act is presumed to be eligible for this program. Makes other changes. Amends the State Finance Act; changes the name of the Senior Citizens and Disabled Persons Prescription Drug Discount Program Fund to the Illinois Prescription Drug Discount Program Fund. Effective January 1, 2006.