Nursing Home Accountability Act of 2015
This bill amends the National Housing Act to condition a nursing home's eligibility for a Section 232 loan upon its quality rating. (A Section 232 loan is insured by the Federal Housing Administration and may be used to finance or refinance the purchase, construction, or renovation of a nursing home or assisted living facility.)
A nursing home becomes ineligible for a Section 232 loan if, for any period of 30 or more consecutive months, the home achieves two or fewer stars under the five-star quality rating system established pursuant to the Social Security Act for purposes of the Medicare and Medicaid programs. However, a nursing home's eligibility shall be renewed if the home subsequently maintains a rating of three or more stars for a period of at least 30 consecutive months.
The bill does not affect existing mortgages.