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Department of Health‑backed bill would require approvals for large transfers and cap equity withdrawals from nursing homes
Summary
Senate Bill 789, requested by the Department of Health, would require Department approval for certain asset transfers and limit withdrawals of equity from nursing homes to 3% of annual revenue without approval; the committee heard testimony from the Department and stakeholders and held the bill.
Senate Bill 789, introduced at the Department of Health’s request and presented in committee by Department representative Neil Heitinen, would require nursing‑home owners to obtain Department approval before withdrawing more than 3% of a facility’s annual revenue in any given year and to disclose certain transfers of assets and ownership information. The Department…
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