Iowa SF533 prohibits the Department of Inspections, Appeals, and Licensing from approving ownership changes of nursing facilities to private equity.

Iowa SF533 amends the state code to prevent the Department of Inspections, Appeals, and Licensing from approving changes in ownership of previously licensed nursing facilities. The bill specifically prohibits such approval if the new owner is a private equity fund, majority-owned by a private equity fund, affiliated with a private equity fund, a real estate investment trust, majority-owned by a real estate investment trust, or affiliated with a real estate investment trust. This measure aims to control the types of entities that can acquire ownership of nursing facilities.

Iowa SF533 prohibits the Department of Inspections, Appeals, and Licensing from approving ownership changes of nursing facilities to private equity.

Iowa SF533 amends the state code to prevent the Department of Inspections, Appeals, and Licensing from approving changes in ownership of previously licensed nursing facilities. The bill specifically prohibits such approval if the new owner is a private equity fund, majority-owned by a private equity fund, affiliated with a private equity fund, a real estate investment trust, majority-owned by a real estate investment trust, or affiliated with a real estate investment trust. This measure aims to control the types of entities that can acquire ownership of nursing facilities.