Bill
Bill > SB1485
OK SB1485
Long-term care; requiring certain liability insurance coverage; providing income tax credit for certain premiums.
summary
Introduced
02/05/2024
02/05/2024
In Committee
02/06/2024
02/06/2024
Crossed Over
Passed
Dead
05/31/2024
05/31/2024
Introduced Session
2024 Regular Session
Bill Summary
An Act relating to long-term care; requiring nursing facility to maintain certain liability insurance coverage; describing policy or contract; providing for penalties; requiring certain notices under specified conditions; providing certain protections against penalties; requiring prescription, completion, and certain update of specified forms; specifying certain limit of liability protection; providing income tax credit for certain liability insurance premiums; requiring compliance with certain provisions; specifying amount of credit; prohibiting refundability of credit; providing for the carry forward of unused credit; and providing for codification.
AI Summary
This bill requires nursing facilities licensed by the Oklahoma State Department of Health to maintain liability insurance coverage of at least $1 million per occurrence of negligence. If a facility is unable to obtain the required coverage due to financial reasons or lack of availability, it must notify patients and the Department of Health, and will not face penalties as long as it coordinates with the Insurance Department and Health Department to obtain coverage. The bill also provides a tax credit of up to 50% of the liability insurance premiums paid by nursing facilities, which can be carried forward for up to three years.
Committee Categories
Health and Social Services
Sponsors (1)
Last Action
Second Reading referred to Health and Human Services Committee then to Finance Committee (on 02/06/2024)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | http://www.oklegislature.gov/BillInfo.aspx?Bill=sb1485&Session=2400 |
| Fiscal Note/Analysis - Senate: SB1485 INT FI | http://webserver1.lsb.state.ok.us/cf_pdf/2023-24%20SUPPORT%20DOCUMENTS/impact%20statements/fiscal/Senate/SB1485%20INT%20FI.PDF |
| Fiscal Note/Analysis - Senate: Introduced | http://webserver1.lsb.state.ok.us/cf_pdf/2023-24%20SUPPORT%20DOCUMENTS/BILLSUM/Senate/SB1485%20INT%20BILLSUM.PDF |
| BillText | http://webserver1.lsb.state.ok.us/cf_pdf/2023-24%20INT/SB/SB1485%20INT.PDF |
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