Bill > SF414

This bill creates a new requirement for the Department of Inspections, Appeals, and Licensing (DIAL) to review and approve acquisitions of housing and health care facilities by private equity firms. The bill defines key terms such as "acquisition" (any transaction where an entity can influence management of housing or health care facilities), "health care facility" (including hospitals, hospice programs, and surgical centers), and "private equity firm" (investors who primarily raise and return capital). Private equity firms must provide DIAL with 60 days' notice before completing an acquisition and must submit detailed information about the proposed transaction, including acquisition agreement terms, workforce plans, service changes, and financial statements. DIAL must post the acquisition details online and allow for public comment, potentially holding public forums to gather input. The department can only approve an acquisition if it determines the transaction is in the public interest and will not reduce access to quality, affordable housing or health care services. If DIAL finds that an acquisition might negatively impact access to housing or healthcare, it can deny approval. The bill also gives DIAL the authority to seek legal injunctions to prevent violations of these requirements and allows the department to create additional implementation rules.

Government Affairs

https://www.legis.iowa.gov/legislation/BillBook?ga=91&ba=SF414