An Act relative to investments by entities of the Commonwealth

HD 1359 restricts Massachusetts Commonwealth investment boards from making new investments in banks or financial institutions that have outstanding loans to private equity firms or real estate investment trusts (REITs) owning skilled nursing facilities (SNFs) or hospices. It requires investment boards to conduct reviews considering risk, returns, and professional advice before such investments. The bill also mandates that when a skilled nursing facility or assisted living residence changes its name, its previous safety and disciplinary records must transfer to the new name and be publicly listed online by the department. This affects Commonwealth investment entities and facilities operating in healthcare sectors, aiming to limit financial ties to certain healthcare providers.