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NJ S2980
Bill
Status
Introduced
1/13/2026
Primary Sponsor
Joseph Vitale
Click for details
AI Summary
- Requires nursing homes to file annual reports within 165 days after fiscal year end (increased from 90 days), including audited financial statements with detailed expense itemization for leases, loans over $10,000, and service contracts over $10,000 per year
- Expands ownership disclosure requirements to identify 100% of current and proposed owners, including anyone with five percent or more interest (reduced from 10%), private equity fund investors with five percent or more ownership, and all related parties
- Mandates disclosure of organizational charts showing parent entities, subsidiaries, related parties, and any unrelated parties expected to provide services exceeding $200,000 annually to the nursing home
- Allows information submitted in transfer of ownership applications to be used in adverse licensure or disciplinary actions against applicants (removing prior prohibition)
- Requires payment of outstanding Medicaid audit claims, overpayments, and State-issued penalties before approving ownership transfers, with affidavit requirements identifying the responsible party for any post-transfer Medicaid overpayments
Legislative Description
Revises reporting requirements for nursing homes concerning financial disclosures and ownership structure.
2nd Reading in the Senate
Last Action
Reported from Senate Committee with Amendments, 2nd Reading
3/16/2026
Committee Referrals
Health, Human Services and Senior Citizens1/13/2026
Full Bill Text
No bill text available