As discussed in our March 22, 2023 post, here, Governor Hochul’s proposed budget contained a bill that, if passed, would be transformative for certain healthcare transactions. Hochul’s proposal was dropped from both one-house budgets proposed by the New York Senate and Assembly.

While its passage appears unlikely, the final budget is now delayed past its April 1, 2023, deadline. Stakeholders should continue to closely monitor this proposed legislation, as it would have major implications for certain healthcare transactions not typically subject to a Department of Health regulatory review.

Notably, and as detailed in our prior post, whether or not the legislation is enacted as proposed, as modified, or at all, there are significant issues addressed in Gov. Hochul’s proposal that will remain on the government’s radar for the foreseeable future.