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H 1221

An Act relative to investments by entities of the Commonwealth

194th Legislature (2025-2026) Introduced by Sal DiDomenico and 2 co-sponsors

Bill H 1221 restricts investments in financial institutions linked to private equity in skilled nursing and hospice care, enhancing transparency and accountability in healthcare.

Accompanied a study order, see H5213
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Bill Summary · H 1221

Summary of Bill H 1221: An Act Relative to Investments by Entities of the Commonwealth

Bill Information:
- Bill Number: H 1221
- Introduced: February 27, 2025
- Status: Hearing rescheduled to November 18, 2025, from 10:30 AM to 1:00 PM in A-2 (Virtual Hearing location changed)
- Classification: Bill
- Sponsors:
- Primary: Sally P. Kerans
- Cosponsor: Sal N. DiDomenico

Purpose and Intent

Bill H 1221 aims to regulate investments made by entities of the Commonwealth of Massachusetts, specifically targeting financial institutions and their connections to skilled nursing facilities and hospices. The bill seeks to enhance transparency and accountability in investment practices, particularly concerning the financial backing of private equity firms and real estate investment trusts that operate in the healthcare sector.

Key Provisions

  1. Investment Restrictions:

    • The bill amends Section 23 of Chapter 32 of the General Laws to prohibit new investments in:
      • Banks or financial institutions with outstanding loans to private equity firms or real estate investment trusts that own or invest in skilled nursing facilities or hospices.
      • Stocks, securities, or obligations of companies engaged in these activities.

  2. Definitions:

    • Skilled Nursing Facility (SNF): A licensed facility providing skilled nursing care and related services.
    • Hospice: An organization providing care to terminally ill individuals, meeting specific Medicare conditions.
    • Private Equity Firm (PE): A firm that acquires funds from accredited investors for direct investments in companies.
    • Real Estate Investment Trust (REIT): A company that owns, operates, or finances income-generating real estate.

  3. Transparency in Name Changes:

    • Any change of name for a skilled nursing facility or assisted living residence must include the transfer of its safety record to the new name.
    • The Department of Public Health will maintain a list of both the new and previous names, including safety records, on its official website and require facilities to post this information on their own platforms.

  4. Penalties for Non-Compliance:

    • Facilities that fail to comply with notification requirements regarding name changes or ownership changes may face penalties as determined by the Department of Public Health.

Impact

  • Entities Affected:

    • Financial institutions and investment entities involved with skilled nursing facilities and hospices.
    • Skilled nursing facilities and assisted living residences undergoing name changes or ownership transitions.

  • Public Transparency:

    • The bill promotes transparency regarding the safety records of healthcare facilities, ensuring that the public has access to important information about the facilities they may consider for care.

Procedural Aspects

  • The bill was referred to the Committee on Financial Services on February 27, 2025, and has undergone scheduling changes for hearings, with the next hearing set for November 18, 2025.

This summary provides an overview of Bill H 1221, highlighting its purpose, key provisions, and potential impacts on investments and transparency in the healthcare sector within the Commonwealth of Massachusetts.

Compiled from official sources — confirm details with the bill’s official record.

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