This CPLR article 78 proceeding is a challenge to the interpretation of 10 NYCRR 86-2.28 given by respondent Commissioner of Health for the purpose of computing the return on average equity capital for petitioner's 1987 and 1988 Medicaid reimbursement rates. Supreme Court held that the Commissioner's computation in the instant case was incorrect because it had subtracted from average equity capital the amount of property equity upon which a...
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