Bill > SB01332

This bill aims to prevent private equity companies and real estate investment trusts (REITs) from acquiring or increasing ownership or control of nursing homes, effective October 1, 2025. The legislation defines key terms such as "indirect ownership interest" (ownership in an entity that owns a nursing home), "operational control" (the ability to influence nursing home policies or personnel decisions), and "ownership interest" (possession of equity, stock, or real estate related to a nursing home). Private equity companies are defined as entities that collect capital investments, while REITs are defined according to federal tax code. Under this bill, these types of companies would be prohibited from obtaining any direct or indirect ownership interest or operational/financial control of nursing homes after the specified date. The bill also modifies existing licensing requirements for nursing homes, mandating that applicants provide detailed information about ownership, including specific disclosures if a private equity company or REIT is involved in the ownership structure. These provisions are designed to increase transparency and potentially limit corporate involvement in nursing home ownership, with the implied goal of protecting the quality of care for nursing home residents by preventing potentially profit-driven ownership models.

Health and Social Services

Aging Committee (J)

https://www.cga.ct.gov/asp/cgabillstatus/cgabillstatus.asp?selBillType=Bill&bill_num=SB01332&which_year=2025