NJ A5877

Amends the nursing home assessment law to allow the aggregate assessment paid by all nursing homes to be either 6% of total annual revenues or the maximum percentage permissible under federal law, whichever applies

Current law caps the combined nursing home assessments at 6% of aggregate annual revenues under federal regulations at 42 C.F.R. s.433.68(f)(3)(i)

Assessments are paid to the Director of the Division of Taxation and deposited into a fund, with collection contingent on federal government approval of both the assessment and distribution plan

Medicare patient day revenues and receipts from Medicare certified beds remain excluded from the assessment calculation

Corrects a citation format in the federal regulation reference from "s.433.68(f)(3)(I)" to "s.433.68(f)(3)(i)"