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Panel advances bill tightening rules for private-equity-owned nursing homes after debate
Summary
A legislative aging committee moved SB 125 to the floor after members debated new reporting requirements and a required performance bond for nursing-home owners, with supporters saying it protects residents and skeptics warning it could hinder needed investment.
A legislative committee on aging voted to advance SB 125, a bill that would tighten oversight of nursing-home ownership and require operators to provide timely data to the Department of Social Services and demonstrate a performance bond equal to 90 days of operating costs at application or renewal.
Supporters said the measure is aimed at preventing abrupt failures by some private-equity owners that leave the state or families responsible for unpaid liabilities. "We have seen…
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