New York A11062 removes outdated cost caps and excessive equity requirements for certain residential health care facilities.

New York A11062 amends the public health law to ensure that publicly-sponsored residential health care facilities and those receiving grants under the Statewide Health Care Facility Transformation program are exempt from outdated total project cost caps and excessive project equity requirements. This change applies to facilities that received an award under specific sections of the public health law and non-state operated public residential health care facilities. The bill also modifies the calculation of owner's equity to exclude surplus from asset revaluation.

New York A11062 removes outdated cost caps and excessive equity requirements for certain residential health care facilities.

New York A11062 amends the public health law to ensure that publicly-sponsored residential health care facilities and those receiving grants under the Statewide Health Care Facility Transformation program are exempt from outdated total project cost caps and excessive project equity requirements. This change applies to facilities that received an award under specific sections of the public health law and non-state operated public residential health care facilities. The bill also modifies the calculation of owner's equity to exclude surplus from asset revaluation.