GA SB505

Requires nonprofit hospitals and hospital authority-operated hospitals in Georgia to post and maintain specified financial documents on their websites in a uniform format and manner established by the Department of Community Health, with annual updates due no later than July 1 each year and noncurrent documents remaining accessible indefinitely.

Directs the department to establish a uniform template and reporting criteria for required hospital financial disclosures by December 31, 2024, with all hospitals required to implement the template by July 1, 2025.

Requires hospitals to annually provide the department with the URL to their posted financial documents by August 1 each year, and requires the department to maintain an updated webpage with links to each hospital's disclosures.

Increases noncompliance penalties by suspending hospitals that fail to comply with any provision of the code section from receiving any funds administered by the state (previously limited to state funds and certain donations), with 30 days' notice and an opportunity to correct deficiencies before suspension.

Revises the hospital authority board vacancy process by removing the board's ability to decline a governing body's list of three eligible nominees and requiring the board to select one person from the submitted list.