HB3504ham001 99TH GENERAL ASSEMBLY

Rep. Robyn Gabel

Filed: 3/23/2015

09900HB3504ham001 LRB099 09189 JLK 33070 a

AMENDMENT TO HOUSE BILL 3504

AMENDMENT NO. ______. Amend House Bill 3504 as follows:

on page 4, line 6, by replacing "on 3 consecutive days" with "on one day 3 consecutive days"; and

on page 4, line 14, by replacing "on 3 consecutive" with "on one day 3 consecutive"; and

on page 4, by replacing line 15 with the following:

"days. The applicant shall pay the cost incurred by the Board in publishing the change of ownership notice in newspapers as required under this subsection. The legal notice shall also be posted on the Health"; and

by replacing line 24 on page 4 through line 18 on page 5 with the following:

"An application for a change of ownership need not contain signed transaction documents so long as it includes the following key terms of the transaction: names and background of the parties; structure of the transaction; the person who will be the licensed or certified entity after the transaction; the ownership or membership interests in such licensed or certified entity both prior to and after the transaction; fair market value of assets to be transferred; and the purchase price or other form of consideration to be provided for those assets. The issuance of the certificate of exemption shall be contingent upon the applicant submitting a statement to the Board within 90 days after the closing date of the transaction, or such longer period as provided by the Board, certifying that the change of ownership has been completed in accordance with the key terms contained in the application. If such key terms of the transaction change, a new application shall be required."; and

by replacing line 25 on page 5 through line 4 on page 6 with the following:

"ownership. Once such an application is submitted to the Board and reviewed by the Board staff, the Board Chair shall take action on an application for an exemption for a change of ownership among related persons within 45 days after the application has been deemed complete, provided the application meets the applicable standards under this Section. If the Board Chair has a conflict of interest or for other good cause, the Chair may request review by the".