Private Equity Acquisition of Child Care Centers

Additional co-sponsors (Bacon, Brown, Froelich, Joseph, Lindsay, Story, Valdez, Willford, Zokaie) and Senate co-sponsor (Jodeh) were added to the bill.

Committee assignments were updated to include Business, Labor, & Technology in the Senate.

Preamble text was updated from 'PREAMENDED' to 'REVISED' to reflect that all amendments adopted on second reading are now included.

Some sections of the bill text were removed (lines 9-26) and reformatted, though the exact policy impact of these deletions cannot be fully determined from the excerpt alone.

Added a requirement for child care centers owned by institutional investment entities to post and update pricing on their website according to existing state law.

Added a requirement that institutional investment entities provide at least 60 days' notice to employees and enrolled families before laying off staff or changing enrollment or eligibility requirements after acquiring a child care center.

Removed references to 'Amended 2nd Reading' and 'March 4, 2025' and other version-specific metadata that indicated the bill had been amended during the legislative process.

Added five new co-sponsors to the House sponsorship list: Bacon, Brown, Froelich, Joseph, Lindsay, Story, Valdez, Willford, and Zokaie.

Updated the bill summary notice to indicate that amendments have been adopted and added a date stamp of March 5, 2025.

Removed requirements for child care centers owned by institutional investment entities to post pricing on their websites pursuant to Section 26.5-5-332(5).

Removed requirements for institutional investment entities to provide sixty days' notice to child care center employees and enrolled families.

Added a legislative declaration section explaining that large for-profit child care chains backed by institutional investors have profit motives distinct from nonprofit or small investor-backed programs.

Added explicit guardrails preventing child care center chains from levying excessive ancillary fees, lacking pricing transparency, forcing sale-leaseback arrangements, and conducting mass layoffs or site closures without reasonable notice.

Added requirement that child care centers owned by institutional investment entities must post and update child care pricing on their website pursuant to existing section 26.5-5-332 (5).

Added requirement that institutional investment entities must provide at least sixty days' notice to employees and enrolled families before laying off staff or changing enrollment/eligibility requirements.

Modified the definition of 'institutional investment entity' to clarify that it includes entities that hold at least a 20% share of a publicly traded company that operates or franchises child care centers.