22 §3175-D. Nursing facility depreciation
Title 22: HEALTH AND WELFARE
Subtitle 3: INCOME SUPPLEMENTATION HEADING: PL 1973, C. 790, §1 (AMD)
Part 1: ADMINISTRATION
Chapter 855: AID TO NEEDY PERSONS HEADING: PL 1973, C. 790, §2 (NEW)
§3175-D. Nursing facility depreciation
1. Depreciation. For sales of nursing facilities, as defined in section 1812-A, that occur on or after October 1, 2009, 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 [2009, c. 97, §1 (NEW).]
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. [2009, c. 97, §1 (NEW).]
[ 2009, c. 97, §1 (NEW) .]
SECTION HISTORY
2009, c. 97, §1 (NEW).