Maine Revised Statutes Title 22 Sec. 1819-A – Financial disclosure
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Each hospital licensed under this chapter must annually publicly disclose: [PL 2005, c. 249, §1 (NEW).]
1. IRS Form 990. The federal Internal Revenue Service Form 990, including all related disclosable schedules, for the hospital and for each tax-exempt entity related to the hospital that is required by federal law to file that form with the Internal Revenue Service; and
[PL 2005, c. 249, §1 (NEW).]
Terms Used In Maine Revised Statutes Title 22 Sec. 1819-A
- Department: means the Department of Health and Human Services. See Maine Revised Statutes Title 22 Sec. 1-A
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
2. IRS Form 1120. The federal Internal Revenue Service Form 1120 for each for-profit entity in which the hospital has a controlling interest.
[PL 2005, c. 249, §1 (NEW).]
Information required to be disclosed under this section must be submitted by the hospital to the department within 5 months after the end of the hospital’s fiscal year or within 5 months after the date on which the entity files the applicable form with the Internal Revenue Service. The department shall make available for public inspection and photocopying copies of all documents required by this section and shall post those documents on the department’s publicly accessible website. The department shall post a chart on the website listing each hospital and providing a link to the documents filed pursuant to subsection 1. [PL 2009, c. 350, Pt. C, §1 (AMD).]
SECTION HISTORY
PL 2005, c. 249, §1 (NEW). PL 2009, c. 350, Pt. C, §1 (AMD).