The bill proposes the complete repeal of Chapter 23-15 of the General Laws, known as the "Health Care Certificate of Need Act of Rhode Island," thereby eliminating the existing framework for assessing the need for new healthcare equipment and institutional health services. In its place, the bill introduces new sections that include a short title, definitions, and a purpose statement aimed at establishing standards for the authorization and allocation of new healthcare services and equipment.

The bill outlines a new review and approval process, emphasizing the necessity for proposals to demonstrate need and affordability, while ensuring alignment with state health plans and community requirements. It introduces several new provisions and exemptions, such as exempting nonclinical capital expenditures, research-related expenditures, and voter-approved capital bond issues from the certificate of need review.

Additionally, the bill modifies the review process by requiring the health services council to evaluate proposals based on affordability and need, and mandates that the state agency provide written justification for any deviations from the council's recommendations. It establishes a fee structure for applications and outlines procedures for expedited reviews in cases of documented emergency needs or safety hazards. Overall, these changes aim to streamline the approval process for new healthcare services and equipment, making it more efficient while ensuring that new proposals are necessary and financially viable for the state.