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

This bill requires nursing homes in New Jersey to provide detailed financial and ownership information to the Department of Health before a sale or transfer of ownership occurs. The new requirements include submitting a transfer fee, a cover letter identifying the facility, a description of the transaction with full details on current and proposed owners, and copies of sales and management agreements. The Department of Health must post these applications on its website within 30 days while redacting personal and proprietary information, and the public will have an opportunity to comment on each transfer. Additionally, ownership transfer approval depends on the Department reviewing the new owners' disciplinary history and ensuring all outstanding Medicaid claims and penalties are resolved or assumed by the new owners.