Bill > SF533

This bill prohibits the Department of Inspections, Appeals, and Licensing (DIAL) from approving changes in ownership of nursing facilities when the potential new owner falls into specific categories related to private equity and real estate investment. Specifically, DIAL cannot approve a change of ownership if the new owner is a private equity fund (as defined under federal banking regulations), is majority-owned by a private equity fund, is an affiliate of a private equity fund, is a real estate investment trust (as defined in federal tax code), is majority-owned by a real estate investment trust, or is an affiliate of a real estate investment trust. The bill aims to restrict the ability of certain financial entities, particularly private equity firms and real estate investment trusts, from acquiring nursing facilities, potentially in an effort to protect the quality of care or prevent what might be perceived as prioritizing financial returns over patient welfare in these healthcare settings.

Government Affairs

https://www.legis.iowa.gov/legislation/BillBook?ga=91&ba=SF533