Bill > S06679

This bill requires nursing home companies to conduct quarterly financial audits of trust fund accounts where residents' money is deposited. Specifically, each nursing home facility must arrange and pay for a separate audit conducted by an independent third party, with the primary goal of preventing misappropriation of residents' funds. The audits must be comprehensive, covering all books and records related to these trust fund accounts. Each nursing home company must provide copies of the audit reports to the commissioner of public health within 60 days of completing the audit. Additionally, the bill grants the commissioner the authority to examine and audit the company's books and records at any time. The legislation aims to increase transparency and protect vulnerable nursing home residents by ensuring their personal funds are properly managed and tracked. The bill will take effect on the first day of January following its enactment.

Health and Social Services

https://www.nysenate.gov/legislation/bills/2025/S6679