The bill amends Section 23-17-65 of the General Laws regarding the licensing of healthcare facilities, introducing new requirements for transparency in ownership of nursing facilities. Operators are required to file ownership information with the Department of Health, including details about individuals and entities with interests in the facility. The bill establishes penalties for operators who fail to file the required ownership information or who knowingly submit false or incorrect information. Penalties may include fines of up to one million dollars or the amount of facility assets diverted to undisclosed interest holders, and the director may require a financial audit at the operator's expense.

Additionally, the bill adds a new section, 23-17-12.12, which prohibits nursing facilities from withdrawing equity or transferring assets that exceed three percent of their total reported annual revenue for patient care services without prior written approval from the director. Facilities must notify the licensing agency of such requests by certified mail, and the director is required to make a determination on the request within sixty days of receipt. This legislation aims to enhance transparency and accountability in the ownership and financial operations of healthcare facilities.

Statutes affected:
789: 23-17-65