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General Assembly Substitute Bill No. 1480
January Session, 2025
AN ACT CONCERNING PRIVATE EQUITY AND REAL ESTATE
INVESTMENT TRUST OWNERSHIP OF HOSPITALS AND NURSING
HOMES.
Be it enacted by the Senate and House of Representatives in General
Assembly convened:
Section 1. (Effective October 1, 2025) (a) As used in this section, (1) 1
"nursing home" and "hospital" have the same meanings as provided in 2
section 19a-490 of the general statutes, (2) "private equity company" 3
means a publicly traded or non-publicly traded company that collects 4
capital investments from individuals or entities and purchases a direct 5
or indirect ownership share of a nursing home or hospital, and (3) "real 6
estate investment trust" has the same meaning as provided in 26 USC 7
856, as amended from time to time. 8
(b) The Commissioner of Social Services shall require a nursing home 9
or hospital to be free of any new ownership interests by private equity 10
companies or real estate investment trusts recorded on and after 11
October 1, 2025, in order to be eligible for Medicaid reimbursement in 12
the state for health care services. 13
This act shall take effect as follows and shall amend the following
sections:
Section 1 October 1, 2025 New section
Substitute Bill No. 1480
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Statement of Legislative Commissioners:
In Subsec. (a), "provider" was changed to "nursing home or hospital" for
internal consistency and clarity.
HS Joint Favorable Subst. -LCO