Bill > A06336

This bill directs the New York State Commissioner of Health to establish two demonstration projects by December 31, 2026, aimed at encouraging equity investment in residential health care facilities, with one project located in upstate New York and the other in a downstate region. The projects will evaluate how private equity investment can provide financial resources for nursing homes, potentially improving capital improvements, technology, and quality of care. Specifically, 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 being an experienced healthcare professional responsible for daily management. The equity investors will participate through these companies, with certain regulatory requirements waived, though facilities must still comply with operating standards and Medicaid patient admission regulations. Within two years of the first facility's operation, the Commissioner must provide a comprehensive evaluation to state leadership, assessing the program's effectiveness in accessing capital, impact on care quality, staff retention, and resident access. Participating facilities will be required to submit detailed quality reports to the Commissioner, tracking patient care indicators, staffing levels, and population access.