Read the full stored bill text
Senate
File
2236
-
Introduced
SENATE
FILE
2236
BY
BISIGNANO
A
BILL
FOR
An
Act
prohibiting
certain
changes
of
ownership
of
a
previously
1
licensed
nursing
facility.
2
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
3
TLSB
6714XS
(1)
91
dg/ko
S.F.
2236
Section
1.
Section
135C.7A,
Code
2026,
is
amended
by
adding
1
the
following
new
subsection:
2
NEW
SUBSECTION
.
6A.
The
department
shall
not
approve
the
3
change
of
ownership
of
a
previously
licensed
nursing
facility
4
if
the
person
seeking
to
obtain
ownership
of
the
nursing
5
facility
is
any
of
the
following:
6
a.
A
private
equity
fund
as
defined
in
12
U.S.C.
7
§1851(h)(2),
as
amended.
8
b.
Majority
owned
by
a
private
equity
fund.
9
c.
An
affiliate
of
a
private
equity
fund.
10
d.
A
real
estate
investment
trust
as
defined
in
26
U.S.C.
11
§856(a),
as
amended.
12
e.
Majority
owned
by
a
real
estate
investment
trust.
13
f.
An
affiliate
of
a
real
estate
investment
trust.
14
EXPLANATION
15
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
16
the
explanation’s
substance
by
the
members
of
the
general
assembly.
17
Under
current
law,
any
change
in
ownership
of
a
previously
18
licensed
nursing
facility
is
subject
to
approval
by
the
19
department
of
inspections,
appeals,
and
licensing
(DIAL).
This
20
bill
prohibits
DIAL
from
approving
any
change
of
ownership
of
21
a
nursing
facility
if
the
person
seeking
to
obtain
ownership
22
is,
is
owned
in
majority
by,
or
is
an
affiliate
of,
a
private
23
equity
fund
or
a
real
estate
investment
trust.
24
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