RI H7930

Nursing facility operators must file detailed ownership information with the Department of Health, including names and addresses of all persons with interests in the land, building, mortgages, leases, and the complete ownership entity above the licensee

Operators failing to file required ownership information or filing false information face penalties including a mandatory financial audit at the operator's expense and fines of $1,000,000 or the amount of assets diverted to undisclosed interest holders, whichever is greater

Beginning July 1, 2026, nursing facilities must obtain prior written approval from the director before withdrawing equity or transferring assets exceeding 3% of total reported annual revenue for patient care services

The director must approve or disapprove equity withdrawal requests within 60 days of receiving the written request

All ownership documents and information filed with the Department of Health must be made available to the public upon request