LONG TRM CARE REBALNC NOTE ACT

Creates the Long Term Care Rebalancing Note Act. Provides that every bill, except those bills making a direct appropriation, the purpose or effect of which is (i) to expend any State funds for long term care services or (ii) to expend any State funds for community or home-based alternatives to long term care services, shall have prepared for it prior to second reading in the house of introduction a brief explanatory statement or note which shall include a reliable estimate of the anticipated change in State funding or revenues under its provisions. Provides that for purposes of the Act, revenues include, but are not limited to, changes to revenue received from Federal Medical Assistance Percentage (FMAP). Contains provisions concerning preparation of the note; confidentiality requirements; and other matters. Effective immediately.