Bill > A04492

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 designed to promote the development of new sources of capital for these facilities and measure the impact of such investment on quality of care metrics. The bill allows for the purchase of up to 15 existing high-quality facilities, which can be operated by limited liability companies with at least one member having relevant experience and expertise. The demonstration projects will be subject to various reporting requirements and quality standards, and the Commissioner will provide an evaluation of the program within two years of the first facility's operation.