The bill enacts the "Physician Assistant Licensure Compact" (compact). The compact is designed to enable a physician assistant with a license in a state that has signed the compact (participating state) to more easily become authorized to practice in any other participating state. Participating states and physician assistants must meet specific conditions enumerated in the compact to participate in the compact. The compact allows only the participating state where a physician assistant is licensed to discipline the physician assistant, but allows a participating state where the physician assistant is practicing, but is not licensed, to revoke the physician assistant's authority to practice in that state. The bill authorizes the Colorado medical board (board) to promulgate rules and to facilitate Colorado's participation in the compact, including notifying the Compact Commission (commission) established by the compact of any adverse action taken by the board against a physician assistant licensed in Colorado or practicing in Colorado under the compact. The commission includes a delegate from each participating state and has the powers and duties set forth in the bill. The compact becomes effective on the date the compact is enacted in the seventh participating state. (Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)