IC 16-21-6-13: Submission of audited financial statements; penalty

Sec. 13. (a) As used in this section, "nonprofit hospital system" refers only to those Indiana nonprofit hospital systems described in IC 16-21-18-2.

(b) A nonprofit hospital system shall, before June 1 of each year, submit audited financial statements of the nonprofit hospital system to the state department for each year of the immediately preceding two (2) years.

(c) The requirement under this section is in addition to any other reporting requirement under this title.

(d) If a nonprofit hospital system fails to submit the audited financial statements before June 1 of any year, the state department shall fine the nonprofit hospital system ten thousand dollars ($10,000) per day for which the report is past due. A fine under this subsection shall be deposited into the payer affordability penalty fund established by IC 12-15-1-18.5.