HB2843 Summary

• For-profit nursing homes must disclose lease/rental data regarding related business entities owning or operating facilities with each cost report filed to the Department of Healthcare and Family Services.

• Facilities must report detailed information including new real estate companies created by investors, rental of services (ventilators, pharmaceuticals, ambulances, management services), bankruptcy declarations, private equity backing, loan terms, income/expenses, and Medicaid/Medicare spending.

• Disclosure must be filed with the Department's Bureau of Health Finance within 90 days after each fiscal year ends, and the Department must publish information on its website and in an annual report to the General Assembly.

• Individuals with ownership interests in facilities on the federal Special Focus Facility List cannot obtain ownership interests in other Illinois facilities until the original facility has been removed from the list for 2 years.

• Long-term care providers must notify the Department within 90 days of the effective date of all individual owners and LLC members with their ownership percentages, excluding shareholders in publicly held corporations; state regulators must determine if facilities pay fair market prices for related-party services.