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Industry and operators urge panel to remove REIT ban from HB 96, warning it could halt new nursing facilities
Summary
Trilogy Management and nursing-facility advocates told the House Health Committee that language in House Bill 96 barring licensing for facilities that lease from REITs would block new development and restrict capital flows; they proposed an amendment to strip that prohibition and suggested narrower fixes to address poor operators.
Chairwoman Schmidt opened an informal hearing on House Bill 96, and witnesses representing skilled nursing operators argued the bill—s proposed restriction on leasing from real estate investment trusts (REITs) could stop needed construction and refinancing of nursing facilities.
Alex Foster, senior vice president of operations at Trilogy Management Services, told the committee Trilogy manages 31 Ohio campuses with about 1,800 skilled nursing beds and that the company—s Ohio facilities ‘‘hold an average CMS quality rating of 4.8 out of 5…
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