New Jersey S1948 revises reporting requirements for nursing homes concerning financial disclosures and ownership structure.
New Jersey S1948 revises the reporting requirements for transfers of nursing home ownership and assignments of substantial management control over a nursing home to a third party entity. The bill revises the threshold for reporting certain interested party transactions from $2,500 per year to $10,000 per year. It requires enhanced disclosure of the owners and principals of the owners, management companies, and related parties to a nursing home, including the owners and principals of holding and parent companies and subsidiaries, as well as limited liability companies.
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