HP0357, LD 538, item 1, An Act To Align Costs Recognized for Transfer of Nursing Facilities and Residential Care Facilities with Ordinary Commercial and Government Contracting Standards

An Act To Align Costs Recognized for Transfer of Nursing Facilities and Residential Care Facilities with Ordinary Commercial and Government Contracting Standards

Be it enacted by the People of the State of Maine as follows:

Sec. 1. 22 MRSA §3175-D, as enacted by PL 2009, c. 97, §1, is amended to read:

§ 3175-D. Nursing facility depreciation

1. Depreciation recapture through June 2012. For sales of nursing facilities, as defined in section 1812-A, that occur on or after October 1, 2009 and prior to July 1, 2012, the department shall either:

A. At the time of the sale, recapture depreciation paid by the department under the MaineCare program, from the proceeds of the sale; or

B. At the election of the buyer and seller, waive the recapture of depreciation at the time of the sale and allow the asset to transfer at the historical cost of the seller less depreciation allowed under the MaineCare program to the buyer for reimbursement purposes.

2. Depreciation recapture after June 2012. For sales of nursing facilities, as defined in section 1812-A, that occur on or after July 1, 2012, the department may not recapture depreciation from the seller.

Sec. 2. 22 MRSA §3175-E is enacted to read:

§ 3175-E. Residential care facility depreciation

1. Depreciation recapture after June 2012. For sales of residential care facilities, as defined in section 7852, subsection 14, that are reimbursed under the MaineCare program that occur on or after July 1, 2012, the department may not recapture depreciation from the seller.

Sec. 3. Retroactivity. This Act applies retroactively to July 1, 2012.

summary

This bill provides that, to align treatment of long-term care providers with other government contractors and typical private transactions, MaineCare depreciation recapture from sellers of nursing facilities and residential care facilities does not apply to any sales on or after July 1, 2012.

HP0357 LD 538	Session - 126th Maine Legislature		LR 980 Item 1
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