PARRIS N. GLENDENING, Governor

Ch. 346

OFFICE A WRITTEN PLAN FOR RESTORING THE FUNDS IN THE RESERVE TO THE
LEVEL REQUIRED BY SUBSECTION (B) OF THIS SECTION.

(G) (1) ANY PROVIDER THAT HOLDS A CERTIFICATE OF REGISTRATION OR
A PRELIMINARY CERTIFICATE OF REGISTRATION OR APPROVAL OF ITS FEASIBILITY
STUDY AS OF THE EFFECTIVE DATE OF THIS SECTION ON OCTOBER 1. 1996 SHALL
HAVE UP TO 10 FULL FISCAL YEARS AFTER THE EFFECTIVE DATE OCTOBER 1, 1996
TO MEET THE REQUIREMENT OF SUBSECTION (B) OF THIS SECTION.

(2)     ANY SUCH PROVIDER SHALL MEET THE REQUIREMENT OF
SUBSECTION (B) OF THIS SECTION AT A MINIMUM RATE OF 10% PER YEAR AS OF THE
END OF EACH FISCAL YEAR AFTER THE EFFECTIVE DATE OCTOBER 1, 1996. UP TO A
TOTAL OF 100% AS OF THE END OF THE 10TH FISCAL YEAR.

(3)     THE OFFICE MAY ALLOW ANY SUCH PROVIDER TO MODIFY THE
MINIMUM RATE OR AUTHORIZE AN ADDITIONAL AMOUNT OF TIME TO MEET THE
REQUIREMENT OF SUBSECTION (B) OF THE SECTION, IF THE MODIFICATION IS
NECESSARY TO MAINTAIN THE FINANCIAL VIABILITY OF THE FACILITY.

(H) (1) ANY PROVIDER THAT DOES NOT HOLD A CERTIFICATE OF
REGISTRATION OR A PRELIMINARY CERTIFICATE OF REGISTRATION OR APPROVAL
OF ITS FEASIBILITY STUDY AS OF THE EFFECTIVE DATE OF THIS SECTION SHALL
MEET THE REQUIREMENT OF SUBSECTION (B) OF THIS SECTION AS OF THE END OF
THE SECOND FULL FISCAL YEAR AFTER THE FISCAL YEAR IN WHICH THE PROVIDER
IS ENTITLED, UNDER SUBSECTION 11(C) OF THIS SECTION, TO THE RELEASE OF ALL
OF THE FUNDS HELD IN ESCROW.

(2) (I) A PROVIDER MEETING THE STANDARDS OF PARAGRAPH (1) OF
THIS SUBSECTION MAY SATISFY THE REQUIREMENT OF PARAGRAPH (1) OF THIS
SUBSECTION BY MEANS OF A BINDING AGREEMENT THAT UNCONDITIONALLY
OBLIGATES A FINANCIAL INSTITUTION TO FURNISH THE PROVIDER CREDIT IN AN
AMOUNT AT LEAST EQUAL TO THE AMOUNT REQUIRED IN PARAGRAPH (1) OF THIS
SUBSECTION.

(II) THE PROVIDER MUST MEET THE REQUIREMENTS OF
PARAGRAPH (1) OF THIS SUBSECTION THROUGH A RESERVE AS OF THE EARLIER TO
OCCUR OF:

1. THE END OF THE 10TH FULL FISCAL YEAR FOLLOWING
THE FISCAL YEAR IN WHICH THE PROVIDER IS ENTITLED, TO THE RELEASE OF ALL
OF THE FUNDS HELD IN ESCROW UNDER § 11(C) OF THIS SUBTITLE; AND

2. THE DATE ON WHICH THE BINDING AGREEMENT WITH A
FINANCIAL INSTITUTION EXPIRES, TERMINATES, OR IS NOT RENEWED.

(H) (1) EXCEPT AS PROVIDED UNDER PARAGRAPH (2) OF THIS SUBSECTION,
A PROVIDER THAT DOES NOT BY OCTOBER 1, 1996 HOLD A CERTIFICATE OF
REGISTRATION OR A PRELIMINARY CERTIFICATE OF REGISTRATION OR RECEIVE
APPROVAL BY THE OFFICE ON AGING OF THE PROVIDER'S FEASIBILITY STUDY
MUST MEET THE REQUIREMENTS OF SUBSECTION (B) OF THIS SECTION FROM THE

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