Bill > S3829

This bill, titled the "Corporate Crimes Against Health Care Act," aims to curb exploitative practices by private equity firms and other corporate entities in the healthcare sector. Key provisions include establishing an "unjust enrichment clawback" authority, allowing the government to recover compensation from "covered parties" (individuals or entities involved with a "target firm," which is a healthcare corporation acquired in a change of control) if their actions contribute to a "triggering event" (such as a target firm failing to pay salaries, defaulting on loans, or declaring bankruptcy) that results in patient harm, with criminal penalties ranging from 1 to 6 years imprisonment and civil penalties up to five times the clawed-back amount. The bill also prohibits payments from federal healthcare programs to entities that sell assets to or use assets as collateral for loans with Real Estate Investment Trusts (REITs), repeals special rules for REITs with interests in certain healthcare property, and eliminates qualified REIT dividends from being considered qualified business income for tax purposes, all intended to reduce financial incentives for potentially harmful corporate behavior. Furthermore, it mandates comprehensive reporting by "specified entities" (various healthcare providers and their controlling entities) on ownership, financial dealings, and operational changes to the Department of Health and Human Services, with this information to be made public, and imposes penalties for non-compliance or false reporting. Finally, the bill requires a study and report on profit-driven practices in healthcare delivery and their impact on patient care, healthcare workers, and various government health programs.

Budget and Finance

https://www.congress.gov/bill/119th-congress/senate-bill/3829/all-info