3.0.0 4804 2025-06-03T14:25:24Z 2025-06-03T14:25:24Z Senate S S 2024-07-25 118 ssfi00 Finance Committee Senate Standing Referred To 2024-07-25T18:31:50Z 118 4777 S 2024-07-25 Read twice and referred to the Committee on Finance. Related bill CRS 118 9156 HR 2024-12-17 Referred to the Subcommittee on Health. Identical bill CRS 2024-07-25 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2024-07-25 Introduced in Senate IntroReferral 10000 9 Library of Congress M000133 Sen. Markey, Edward J. [D-MA] Edward Markey D MA J. N B001230 Sen. Baldwin, Tammy [D-WI] Tammy Baldwin D WI 2024-07-25 True W000800 Sen. Welch, Peter [D-VT] Peter Welch D VT 2024-07-25 True M001176 Sen. Merkley, Jeff [D-OR] Jeff Merkley D OR 2024-07-25 True W000817 Sen. Warren, Elizabeth [D-MA] Elizabeth Warren D MA A. 2024-07-25 True S000033 Sen. Sanders, Bernard [I-VT] Bernard Sanders I VT 2024-07-25 True B001288 Sen. Booker, Cory A. [D-NJ] Cory Booker D NJ 2024-07-25 True S001203 Sen. Smith, Tina [D-MN] Tina Smith D MN 2024-07-25 True B001277 Sen. Blumenthal, Richard [D-CT] Richard Blumenthal D CT 2024-07-25 True Health Health 2024-09-05T13:29:19Z

00 2024-07-25 Introduced in Senate 2024-09-26T16:34:09Z <p><strong>Health Over Wealth Act</strong></p><p>This bill establishes a series of restrictions and requirements regarding for-profit corporations that own health care entities.</p><p>Specifically, the bill requires for-profit corporations that are controlled by private equity funds to obtain a license from the Department of Health and Human Services (HHS) before purchasing or investing in a health care entity. Additionally, for-profit corporations that own or are affiliated with health care entities must report certain ownership and financial information to HHS, such as the corporation's debts, assets, and political spending. The bill establishes civil penalties for violations.</p><p>HHS must require for-profit corporations that are controlled by private equity funds to take certain actions to mitigate the risk of health care disruptions (e.g., escrow accounts to cover closures). In addition, as a condition of Medicare participation, hospitals must notify HHS about expected closures or discontinuations of services at least 90 days in advance.</p><p>The bill also prohibits transactions between for-profit corporations or their affiliated health care entities and real estate investment trusts (REITs) if the transaction would weaken the health care entity's financial status; HHS may collect civil penalties and bring civil actions for violations. The bill additionally excludes rent from health care entities from factoring into whether a corporation may be considered a REIT for tax purposes.</p><p>Finally, the bill prohibits investment companies from stripping assets from health care entities, and it requires bankruptcy courts to give substantial weight to how a bankruptcy plan involving health care entities would preserve health care quality and access.&nbsp;</p>

Display Title 45 2024-08-24T04:23:16Z Short Title(s) as Introduced 101 2024-08-24T04:23:14Z Introduced in Senate IS Official Title as Introduced 6 2024-08-24T04:18:18Z Introduced in Senate IS Introduced in Senate 2024-07-25T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-118s4804is/xml/BILLS-118s4804is.xml 2024-07-25 Read twice and referred to the Committee on Finance. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.