Expands certificate of need requirement to certain sale or lease agreements involving hospitals.
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Progress
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- Introduced
- Passed Senate
- Passed General Assembly
- To Governor
- Became Law
Overview
This bill expands New Jersey’s certificate of need requirements to include certain sale and lease agreements between hospitals and real estate investment trusts. Specifically, it prohibits entities with ownership in hospitals from entering such agreements without obtaining a certificate of need, unless the agreement doesn’t risk public health or weaken the hospital’s finances. The Department of Health will develop standardized agreement forms with specific provisions regarding performance metrics, offer prioritization, and potential rent reductions during financial instability.
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