Revises reporting requirements for nursing homes concerning financial disclosures and ownership structure.

The bill revises reporting requirements for nursing homes concerning financial disclosures and ownership structure. It mandates that nursing homes submit an owner-certified financial statement reviewed or audited by a certified public accountant, detailing assets, liabilities, equity, revenues, expenses, and other financial metrics. It also requires the submission of an organizational chart identifying owners, principals, and related parties. The bill expands the definition of "related party" to include various entities that provide services or supplies to the nursing home.

Revises reporting requirements for nursing homes concerning financial disclosures and ownership structure.

The bill revises reporting requirements for nursing homes concerning financial disclosures and ownership structure. It mandates that nursing homes submit an owner-certified financial statement reviewed or audited by a certified public accountant, detailing assets, liabilities, equity, revenues, expenses, and other financial metrics. It also requires the submission of an organizational chart identifying owners, principals, and related parties. The bill expands the definition of "related party" to include various entities that provide services or supplies to the nursing home.