Bill Text: NY S05739 | 2015-2016 | General Assembly | Amended
Bill Title: Provides for the rate of payment for certain residential health care facilities which are in receivership and have agreed to improve their facilities.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Engrossed - Dead) 2016-02-11 - PRINT NUMBER 5739B [S05739 Detail]
Download: New_York-2015-S05739-Amended.html
STATE OF NEW YORK ________________________________________________________________________ 5739--B 2015-2016 Regular Sessions IN SENATE June 1, 2015 ___________ Introduced by Sen. KLEIN -- read twice and ordered printed, and when printed to be committed to the Committee on Health -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee -- recommitted to the Committee on Health in accord- ance with Senate Rule 6, sec. 8 -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the public health law, in relation to rates of payment to residential health care facilities based on the historical costs to the owner The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Paragraph (d) of subdivision 2-a of section 2808 of the 2 public health law, as amended by section 52 of part B of chapter 57 of 3 the laws of 2015, is amended to read as follows: 4 (d) For facilities granted operating certificates on or after March 5 tenth, nineteen hundred seventy-five, recognition of real property costs 6 in such regulations shall be based upon historical costs to the owner of 7 the facility, provided that payment for real property costs shall not be 8 in excess of the actual debt service, including principal and interest, 9 and payment with respect to owner's equity, and further provided that, 10 subject to federal financial participation, and subject to the approval 11 of the commissioner, effective April first, two thousand fifteen, the 12 commissioner may modify such payments for real property costs for 13 purposes of effectuating a shared savings program, whereby facilities 14 share a minimum of fifty percent of savings, for facilities that elect 15 to refinance their mortgage loans. For purposes of this subdivision, 16 owner's equity shall be calculated without regard to any surplus created 17 by revaluation of assets and shall not include amounts resulting from 18 mortgage amortization where the payment therefor has been provided by 19 real property cost reimbursement; provided, however, as used in this 20 subdivision the terms "historical costs" and "owner's equity" shall EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD11453-06-6
