The bill aims to strengthen health care market standards in Washington by amending existing laws and introducing new definitions and requirements related to health care transactions. Key amendments include the addition of definitions for various entities such as "Domestic for-profit corporation," "Domestic unincorporated entity," and "Health care services," among others. The bill also specifies that any material changes, such as mergers or acquisitions involving hospitals or provider organizations, must be reported to the attorney general at least sixty days prior to the transaction. This includes changes in ownership or control, significant asset transfers, and conversions from nonprofit to for-profit status.

Furthermore, the bill establishes that the attorney general can request additional information regarding these transactions and that no transaction may proceed until the request has been substantially complied with. A new section mandates the revocation of nonprofit designations for hospitals or provider organizations involved in certain transactions with for-profit entities. The bill also emphasizes the importance of data sharing between the attorney general and relevant health agencies to facilitate oversight of these transactions. Overall, the legislation seeks to enhance regulatory scrutiny and ensure transparency in the health care market.

Statutes affected:
Original bill: 19.390.020, 19.390.030, 19.390.050