S 2980
Revises reporting requirements for nursing homes concerning financial disclosures and ownership structure.
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Sign in to take action- Introduced
- Passed Senate
- Passed General Assembly
- To Governor
- Became Law
Bill overview
This bill strengthens financial oversight of New Jersey nursing homes by requiring more detailed reporting on ownership structures, financial disclosures, and management control. It mandates that nursing home owners and applicants for ownership transfers provide organizational charts outlining related parties and financial transactions exceeding a certain threshold. The bill also updates annual reporting requirements to include more specific financial information and expands disclosure obligations to include limited liability companies. Finally, it increases penalties for non-compliance and grants regulatory agencies authority to monitor and audit nursing home finances.
Sponsors
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Primary sponsors
Joseph Vitale
Cosponsors
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