Revises assessment imposed on nursing homes if permissible under federal law.

This bill changes New Jersey's nursing home assessment rate from a fixed 6% to the lower of 6% or the maximum percentage permitted under federal law. It directly affects nursing homes in New Jersey that pay this assessment, which is calculated based on their annual revenues excluding Medicare patient days. The assessment cannot be collected until the federal government approves both the rate and the plan for distributing the funds. Nursing homes must report their data to the Division of Taxation and pay the assessment quarterly after federal approval.