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, such as landowners, mortgage holders, and corporate officers. The bill establishes penalties for operators who fail to provide this information or who submit false data, which may include fines of up to one million dollars or the amount of facility assets diverted to undisclosed interest holders, following a hearing.

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 withdrawals by certified mail, and the director is required to make a determination to approve or disapprove 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:
7930: 23-17-65