A bill for an act prohibiting certain changes of ownership of a previously licensed nursing facility.

This bill prohibits Iowa's Department of Inspections, Appeals, and Licensing (DIAL) from approving ownership transfers of nursing facilities to private equity funds, real estate investment trusts (REITs), or their majority-owned affiliates. It directly affects nursing facilities seeking to sell to these specific investment entities, blocking such sales without DIAL approval. The key provision requires DIAL to deny any ownership change where the buyer is a private equity fund (as defined by federal law), a majority-owned affiliate of one, a REIT, or a majority-owned REIT affiliate. The law aims to prevent ownership shifts to these investment structures without altering current approval processes for other buyers.