Revises reporting requirements for nursing homes concerning financial disclosures and ownership structure.

S 1948 requires New Jersey nursing homes to provide more detailed financial disclosures and ownership information. Nursing homes must now submit annual reports including balance sheets with equity details, itemized expenses for leases and contracts over $10,000, and comprehensive organizational charts showing parent companies, subsidiaries, and related parties providing services worth over $200,000 annually. For ownership transfers, applicants must submit detailed information about current and proposed owners, including organizational charts, and the Department of Health must post these applications online. The bill also requires owner-certified financial statements prepared by certified public accountants and increases penalties for noncompliance to up to $200 per day. These changes aim to increase transparency about nursing home ownership structures and financial relationships.