Bill > A07018

This bill directs the Commissioner of Health to establish up to two demonstration projects to encourage equity investment in the operation of residential health care facilities. The projects will be located in the upstate and downstate regions of New York and are designed to promote the development of new sources of capital for these facilities, as well as measure the impact of such investment on quality of care and resident outcomes. The bill outlines the specific requirements for these demonstration projects, including the ability for the facilities to be operated by limited liability companies with equity investors. The Commissioner is required to provide a written evaluation of the effectiveness of the program within two years of the first facility commencing operations.