MN HF2771

Private equity companies must obtain attorney general approval before acquiring ownership or control of nursing homes or assisted living facilities, with 120 days advance notice required and detailed disclosure of ownership structure, financial status, and operating history

Attorney general must find that acquisitions will not harm resident health, safety, or well-being; will not cause unaffordable housing cost increases; and will not reduce care quality, facility maintenance, or staffing levels

Private equity-owned facilities must spend at least 75% of public program funds on direct resident care, provide severance pay of four weeks' salary per year of employment for laid-off workers, and submit annual reports on finances, staffing, and political spending

Private equity companies are prohibited from interfering with health care professionals' clinical judgment, charging residents differently based on payment source, or asset-stripping acquired facilities

Attorney general must investigate impacts of private equity acquisitions over the past ten years, including effects on care quality, costs, staffing, and facility conditions, with findings due to the legislature by February 15, 2026