Bill > S2097

This bill enacts the "Health Care Entity Fiscal Integrity, Transparency and Accountability Act" and requires specified healthcare entities, including hospitals and federally qualified community health centers (FQHCs), to submit quarterly financial reports to the Executive Office of Health and Human Services (EOHHS) starting October 1, 2026. These reports will include detailed financial information such as cash on hand, revenue, expenses, and patient-related costs, and will be used by the EOHHS secretary to assess the financial health and identify risks within these entities. The bill also exempts this new act from a previous law that required a portion of indirect cost recoveries from restricted receipt accounts to be recorded as general revenues, meaning funds collected under this new act can be used to support its purposes. Failure to submit these quarterly reports on time without good cause will result in daily fines, with collected fines deposited into a dedicated account to fund the act's implementation. The bill also clarifies that it does not obligate the state to provide financial assistance to entities facing financial difficulties.

Budget and Finance

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