Rhode Island 2025 Regular Session

Rhode Island Senate Bill S0704 Compare Versions

Only one version of the bill is available at this time.

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5	5	2025 -- S 0704
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7	7	LC002269
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9	9	S T A T E O F R H O D E I S L A N D
10	10	IN GENERAL ASSEMBLY
11	11	JANUARY SESSION, A.D. 2025
12	12	____________
13	13
14	14	A N A C T
15	15	RELATING TO HUMAN SERVICES -- NURSING HOME FINANCIAL TRANS PARENCY
16	16	ACT
17	17	Introduced By: Senators Euer, Urso, Appollonio, Gu, McKenney, Valverde, Lauria,
18	18	Kallman, Murray, and Ujifusa
19	19	Date Introduced: March 07, 2025
20	20	Referred To: Senate Health & Human Services
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23	23	It is enacted by the General Assembly as follows:
24	24	SECTION 1. Title 40 of the General Laws entitled "HUMAN SERVICES" is hereby 1
25	25	amended by adding thereto the following chapter: 2
26	26	CHAPTER 8.16 3
27	27	NURSING HOME FINANCIAL TRANSPARENCY ACT 4
28	28	40-8.16-1. Short title. 5
29	29	This chapter shall be known and may be cited as the “Nursing Home Financial 6
30	30	Transparency Act”. 7
31	31	40-8.16-2. Definitions. 8
32	32	As used in this chapter, the following words and terms shall have the following meanings 9
33	33	unless the context shall clearly indicate another or different meaning or intent: 10
34	34	(1) “Covered facility” or “covered nursing facility” means any licensed nursing home or 11
35	35	long-term care facility in the State of Rhode Island. 12
36	36	40-8.16-3. Applicability. 13
37	37	This chapter applies to any individual or entity that receives payment from a covered 14
38	38	nursing facility, and: 15
39	39	(1) Directly or indirectly influences or directs the actions or policies of the covered nursing 16
40	40	facility; or 17
41	41	(2) Directly or indirectly influences, directs, or manages the finances, including setting the 18
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44	44	LC002269 - Page 2 of 3
45	45	budget, of the covered nursing facility, including any person or entity that is entitled to receive 1
46	46	(directly or indirectly) five percent (5%) or more of any profits or revenue of the covered nursing 2
47	47	facility; or 3
48	48	(3) Directly or indirectly influences or directs day-to-day operations of the covered nursing 4
49	49	facility. 5
50	50	40-8.16-4. Implementation and compliance. 6
51	51	(a) The department of human services (the "department") shall establish rules, regulations 7
52	52	and procedures for the implementation of this chapter, including the format and timeline for the 8
53	53	submission of required information. 9
54	54	(b) The department shall monitor compliance with these reporting requirements and may 10
55	55	impose penalties for non-compliance, including fines or suspension of operating licenses. 11
56	56	40-8.16-5. Disclosure required. 12
57	57	On and after July 1, 2025, at the time of all reporting periods, any individual or entity that 13
58	58	has an ownership interest in a covered facility pursuant to § 40-8.16-4, shall submit to the 14
59	59	department the following information: 15
60	60	(1) The entity’s legal and doing business as (DBA) name, the state in which the entity is 16
61	61	incorporated, and the legal names of the owners of the entity along with their ownership 17
62	62	percentages; 18
63	63	(2) A balance sheet detailing the assets, liabilities, and equity of the entity; 19
64	64	(3) A statement of income, expenses, and operating surplus or deficit of the entity; 20
65	65	(4) A statement of cash flows from operating activities, investment activities, and financing 21
66	66	activities, which includes capital expenditures, amortization, and depreciation; and 22
67	67	(5) A detailed statement of the goods and services provided by the entity to the covered 23
68	68	nursing facility, including an affidavit that the entity has assessed the fair market value of the goods 24
69	69	and services it has provided to the covered nursing facility and that the goods and services provided 25
70	70	by the entity were traded at no more than fair market value. 26
71	71	40-8.16-6. Public disclosure. 27
72	72	All disclosed financial information shall be made available to the public in a manner that 28
73	73	protects the privacy of individual owners while ensuring transparency and accountability in the 29
74	74	financial operations of nursing facilities. 30
75	75	SECTION 2. This act shall take on July 1, 2025. 31
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82	82	EXPLANATION
83	83	BY THE LEGISLATIVE COUNCIL
84	84	OF
85	85	A N A C T
86	86	RELATING TO HUMAN SERVICES -- NURSING HOME FINANCIAL TRANSPARENCY
87	87	ACT
88	88	***
89	89	This act would mandate transparency in nursing home finances and would establish 1
90	90	procedures for compliance. 2
91	91	This act would take effect on July 1, 2025. 3
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