Bill > S2989

This bill, called the "Stop Medical Profiteering and Theft Act" (Stop MPT Act), aims to prevent health care entities from entering into real estate transactions that could compromise their long-term financial stability or public health. The bill requires health care entities or their parent companies to submit proposed real estate investment trust (REIT) sales or lease agreements to the Secretary of Health and Human Services for review. The Secretary will assess whether these transactions might weaken the financial status of the health care entity or pose risks to public health, and may consult with state attorneys general during the review. If a violation is found, the Secretary can impose civil monetary penalties up to $10,000 per violation. The bill defines various terms like "health care entity" (which includes hospitals, physician practices, nursing facilities, and other healthcare providers) and "covered firm" (a for-profit corporation owning or affiliated with a health care entity). Additionally, the bill makes technical amendments to the Internal Revenue Code to modify how rents from qualified healthcare properties are treated for tax purposes, effectively closing potential loopholes that might allow financially risky real estate transactions in the healthcare sector.

Budget and Finance

https://www.congress.gov/bill/119th-congress/senate-bill/2989/all-info