MA S721

Prohibits Commonwealth retirement boards from making new investments in banks or financial institutions that have outstanding loans to private equity firms or real estate investment trusts (REITs) that own or invest in skilled nursing facilities or hospices

Bars new investments in stocks, securities, or other obligations of any company engaged in private equity or REIT ownership of skilled nursing facilities or hospices

Requires the commission to consider investment diversification, returns, past portfolio performance, and quality of professional investment advice when making determinations

Amends Section 23 of Chapter 32 of Massachusetts General Laws governing public pension fund investments

Defines key terms including skilled nursing facilities (state-licensed facilities providing medical/nursing care), hospices (meeting Medicare conditions in 42 CFR 418.52-418.116), private equity firms (per 12 CFR 1500.4), and REITs (per 26 CFR 1.856-1)