Relates to capital upgrades to certain residential health care facilities
REFERRED TO HEALTH
Summary
The bill revises how New York reimburses real‑property costs for residential health‑care facilities, tying payments to actual debt service and owner equity. It creates a shared‑savings program for facilities that refinance mortgages and removes high equity‑requirement limits for renovations or new construction starting after July 1 2025 for certain award‑receiving or non‑state facilities. These changes aim to reduce financing barriers and encourage cost‑effective upgrades.
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