Bill > S2769

This bill revises reporting requirements for nursing homes concerning financial disclosures and ownership structure. Key provisions include: - Requiring nursing homes to submit detailed ownership information, organizational charts, and consolidated financial statements when applying to transfer ownership or delegate substantial management control to a third party. This information must also be publicly posted on the nursing home's website. - Expanding the definition of "related party" to include organizations with financial connections to the nursing home, its owners, or a third party entity exercising management control. - Defining "substantial management control" and requiring nursing homes to notify the Department of Health when delegating such control to a third party. - Increasing penalties for failure to comply with reporting requirements and allowing the Department to curtail new admissions until violations are corrected. - Requiring common ownership nursing homes to submit one consolidated financial statement covering all related facilities. - Authorizing the State Comptroller to monitor, review, and audit the nursing home financial statements. - Directing the Commissioner of Health and State Comptroller to promulgate regulations implementing the new reporting requirements.

Health and Social Services

https://www.njleg.state.nj.us/bill-search/2022/S2769