Hospital Investment Act of 2003

Hospital Investment Act of 2003 - Amends title XVIII (Medicare) of the Social Security Act to limit the hospital ownership exception to physician self-referral restrictions to interests purchased on terms generally available to the public.

[Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1539 Introduced in House (IH)]







108th CONGRESS
  1st Session
                                H. R. 1539

 To amend title XVIII of the Social Security Act to limit the hospital 
    ownership exception to physician self-referral restrictions to 
    interests purchased on terms generally available to the public.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             April 1, 2003

Mr. Kleczka (for himself and Mr. Stark) introduced the following bill; 
  which was referred to the Committee on Energy and Commerce, and in 
    addition to the Committee on Ways and Means, for a period to be 
subsequently determined by the Speaker, in each case for consideration 
  of such provisions as fall within the jurisdiction of the committee 
                               concerned

_______________________________________________________________________

                                 A BILL


 
 To amend title XVIII of the Social Security Act to limit the hospital 
    ownership exception to physician self-referral restrictions to 
    interests purchased on terms generally available to the public.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Hospital Investment Act of 2003''.

SEC. 2. LIMITING THE HOSPITAL OWNERSHIP EXCEPTION TO PHYSICIAN SELF-
              REFERRAL RESTRICTIONS TO INTERESTS PURCHASED ON TERMS 
              GENERALLY AVAILABLE TO THE PUBLIC.

    (a) In General.--Section 1877(d)(3) of the Social Security Act (42 
U.S.C. 1395nn(d)(3)) is amended--
            (1) by striking ``and'' at the end of subparagraph (A);
            (2) by striking the period at the end of subparagraph (B) 
        and inserting ``; and''; and
            (3) by adding at the end the following new subparagraph:
                    ``(C) the ownership or investment interest is 
                purchased on terms generally available to the public at 
                the time.''.
    (b) Effective Date.--The amendments made by subsection (a) apply to 
ownership and investment interests purchased on or after July 12, 2001.
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