PE Legislation Tracker

Signed in 2025 and effective January 1, 2026. Further restricts private equity and hedge fund influence over physician and dental practice decision-making in California. Limits the scope of management services organization (MSO) contracts and bars non-licensed entities from controlling clinical operations. Builds on California's earlier AB-3129 which required AG review of PE healthcare acquisitions.

Enacted in 2025, this law strengthens Oregon's corporate practice of medicine doctrine, limiting the ability of non-licensed entities — including PE-backed management services organizations — to direct or influence clinical decision-making in physician and dental practices. Part of a national wave of states pushing back on PE consolidation in healthcare.

Signed January 8, 2025 by Governor Healey; effective April 8, 2025. Requires PE firms, REITs, and management services organizations (MSOs) with any financial interest in Massachusetts healthcare providers to file annual ownership reports. Penalties for non-compliance increased from $1,000/week to $25,000/week. Hospitals that fail to report cannot renew their operating licenses. The Health Policy Commission can compel PE investors to testify under oath at public hearings. One of the strongest PE healthcare disclosure laws in the nation, prompted in part by the Steward Health Care collapse.

Requires advance notice and Attorney General review of PE acquisitions of healthcare facilities in California. Gives the AG power to block deals that would harm patient care or access. Signed into law October 2024.

Would prohibit PE-owned childcare centers from receiving federal childcare subsidies unless they meet enhanced transparency and quality standards. Would require disclosure of ownership, fees, and staffing ratios.

Would require PE-owned healthcare facilities in New York to disclose ownership structure, management fees, and quality metrics. Would also mandate 90-day advance notice of facility closures.

Requires ownership transparency for nursing homes, mandates minimum staffing ratios, and increases penalties for quality violations. Targets PE and REIT-owned facilities specifically.

Would cap annual rent increases at manufactured home communities at 3% plus inflation, require 180-day notice before sales, and give residents right of first refusal when PE-backed owners sell communities.

Would make PE firms jointly liable for debts and legal judgments of companies they acquire, ban dividend recapitalizations within 2 years of acquisition, and require PE firms to share profits with employees. Would also mandate disclosure of fees and returns.

Would require PE firms to publicly disclose fees, expenses, and returns for each fund, and mandate reporting of workforce impacts (layoffs, wage changes, benefit cuts) after acquisitions.

Would require PE-owned healthcare facilities to report ownership changes, quality metrics, and staffing levels to HHS. Would ban dividend recapitalizations at healthcare companies and mandate minimum staffing ratios.