The FASB has issued a proposed interpretation to clarify some of the provisions of Interpretation No. 46, Consolidation of Variable Interest Entities, and to exempt certain entities from its requirements

Healthcare Financial Management, Jan, 2004

... The FASB has issued a proposed interpretation to clarify some of the provisions of Interpretation No. 46, Consolidation of Variable Interest Entities, and to exempt certain entities from its requirements. The proposed interpretation clarifies that not-for-profit organizations, including not-for-profit healthcare organizations, are not subject to the requirements of the interpretation. The proposed clarifications and modifications would apply in financial statements for the first period ending after December 15, 2003. To read the document on the FASB's web site, go to www.fasb.org/draft/ed_prop_interp_vie.pdf.>