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

This bill changes how nursing homes in New Jersey pay an annual assessment. It revises the rate from a fixed 6% of non-Medicare nursing home revenues to whichever is lower: 6% or the maximum percentage permitted under federal law (specifically 42 C.F.R. §433.68(f)(3)(i)). The assessment applies only to non-Medicare patient days and excludes Medicare revenues. Nursing homes must pay the assessment only after federal approval of both the assessment rate and how the collected funds will be distributed. This affects all New Jersey nursing homes receiving Medicaid payments.