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- Referred to health
Companion bill
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Requires nursing homes that maintain a trust fund or funds into which residents' money is deposited to conduct quarterly audits and to report the findings of such audits to the commissioner of public health
In Assembly Committee · Health · Sponsor Luis R. Sepúlveda
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S6464
Title of bill
An act to amend the public health law, in relation to requiring nursing homes that maintain a trust fund or funds into which residents' money is deposited to conduct quarterly audits and to report the findings of such audits to the commissioner of public health
Purpose or general idea of bill
This bill would require nursing homes to at their own expense, arrange for quarterly financial audits of all books and records pertaining to each trust fund account into which moneys of residents of the nursing home facilities operated by the company are deposited. The audit shall be conducted by a third party unaffiliated with the nursing home company arid shall be conducted for the purpose of ensuring that residents' moneys are not misappropriated.
Summary of specific provisions
Section 1. Amends the public health law by adding a new section 2862-a. Provides for nursing home companies to arrange for quarterly financial audits, at its own expense, of all books and records pertaining to each trust fund account in which monies of residents at the facility is oper- ated and deposited by the company. Requires an unaffiliated third party to conduct a separate audit to ensure that residents' monies are not misappropriated. Mandates that within sixty days of the completion of the audit copies of the report shall be provided to the commissioner. Specifies that the commissioner may conduct an examination of books and records at any given time.
Section 2. Effective Date
Existing law
None
Justification
This legislation seeks to mimic federal regulations that require all nursing homes that participate in Medicare and Medicaid to provide for quarterly audits of trust fund accounts to prevent the misappropriation of the residents' funds at nursing home companies.
Legislative history
2014: New Bill/A.8247-Referred to Health 2013: A.8247- Referred to Health
Fiscal implications
None to State and Local Government
Effective date
This act shall take effective on the first of January, next succeeding the date upon which it shall become a law.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.