NY S05369

Non-public residential health care facilities compliant with minimum staffing requirements for two consecutive quarters may withdraw equity or transfer assets up to 5% of total reported annual revenue for patient care services, increased from the standard 3% limit

Facilities withdrawing more than the applicable threshold (3% or 5%) must provide prior written notification to the commissioner, or obtain prior written approval depending on facility type

Establishes the "Nursing Home Worker Recruitment and Safety Fund" in joint custody of the Commissioner of Taxation and Finance and the Comptroller as a separate, non-commingled special fund

All fines and civil penalties collected for violations of minimum staffing level requirements must be deposited into the new fund to enhance employment quality and assist with recruitment and safety of residential health care facility staff

The Health Commissioner will distribute fund monies as grants to providers based on criteria including facility census and rate region location