"Fair Funding for Vulnerable Residents Act"; establishes direct care ratio requirement for certain providers of services to adults or children with intellectual or developmental disabilities.

This bill (A4009, "Fair Funding for Vulnerable Residents Act") requires licensed community-based residential providers serving adults or children with intellectual or developmental disabilities to spend at least 70% of their state and federal revenue directly on resident care each year. Providers must annually report detailed financial breakdowns - including staff wages, administrative costs, and other expenses - to the Department of Human Services by October 31. If a provider fails to meet the 70% requirement, they must issue credits to the state by June 30 of the following year, with federal funds returned to federal entities. The bill mandates public reporting of these financial details on department websites to increase transparency for residents and families.