Connecticut SB 125: AN ACT LIMITING MULTIPLE HANDGUN PURCHASES IN A THIRTY-DAY PERIOD.

Bill Text

Substitute Senate Bill No. 125

Public Act No. 26-103

AN ACT REQUIRING NURSING HOMES TO ANNUALLY REPORT
CERTAIN OWNERSHIP INFORMATION REGARDING INVESTMENT
ENTITIES, ACQUIRE, IF FEASIBLE, A SURETY BOND OR A
SIMILAR FORM OF SECURITY IN AN AMOUNT EQUAL TO NINETY
DAYS OF OPERATING COSTS, MAINTAIN FULL GOVERNANCE
CONTROL AND AUTHORITY OVER NURSING HOME ASSETS AND
ACTIVITIES AND ANNUALLY ATTEST THAT NO INVESTMENT
ENTITY HAS CONTROL OVER NURSING HOME RESIDENT
HEALTH, SAFETY OR CARE.
Be it enacted by the Senate and House of Representatives in General
Assembly convened:

Section 1. (NEW) (Effective October 1, 2026) (a) As used in this section,
(1) "nursing home" means a nursing home, as defined in section 19a-490
of the general statutes, that has a provider agreement with the state to
provide services to recipients of benefits obtained through Title XIX of
the Social Security Amendments of 1965; and (2) "investment entity"
means (A) any entity that collects capital investments from individuals
or entities and purchases, as a parent company or through another
entity that the entity completely or partially owns or controls, a direct
or indirect ownership share of a nursing home, or (B) a real estate
investment trust, as defined in 26 USC 856, as amended from time to
time.
(b) Not later than February 15, 2027, and annually thereafter, each
nursing home shall provide the Commissioner of Social Services with

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the following information: (1) The name and business address of all
investment entities with a beneficial ownership interest of five per cent
or more in the nursing home and a statement of whether such
investment entity is an individual, partnership, corporation or other
legal entity; (2) the names of the officers, directors, trustees or managing
and general partners of any such investment entity and the number of
shares owned or ownership percentage of the investment entity held by
each partner; (3) if such investment entity is a corporation that is
incorporated in another state, a certificate of good standing from the
Secretary of the State of the state of incorporation; (4) the audited and
certified financial statements of the investment entity, if applicable,
including, but not limited to, (A) a balance sheet as of the end of the
most recent fiscal year, (B) income statements for the most recent fiscal
year, (C) a cash flow statement from the most recent fiscal year, and (D)
an estimate of financing expenses, legal expenses, land costs, marketing
costs and other similar costs that the investment entity expects to incur
or become obligated to pay within one year of acquisition of the nursing
home; (5) a description of any mortgage loan or other financing used for
the initial acquisition or construction of the nursing home, subsequent
refinancing of any such debt, and any subsequent financing of
additional debt incurred, including, but not limited to, the terms and
costs of any such mortgage loan or other financing; (6) a copy of the
purchase agreement for the nursing home and any agreement providing
for the transfer of ownership interests in the nursing home, including,
but not limited to, the real estate agreement, asset agreement, stock
agreement or other similar agreement; and (7) any documentation
regarding escrow or contingency accounts.
(c) The Commissioner of Social Services may impose a civil penalty
of one thousand dollars per day on any nursing home that fails to
provide any information required pursuant to subsection (b) of this
section not later than thirty days after the date such information is due,
provided the commissioner provides written notice to the nursing home

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of its failure to provide such information not later than fourteen days
after the date such information is due. A nursing home may request a
fair hearing on the assessment of any such civil penalty as an aggrieved
person pursuant to section 17b-60 of the general statutes.
(d) (1) The Commissioner of Social Services shall identify any security
instruments, including, but not limited to, surety bonds, escrow
accounts or insurance-related products, that may be available to a
nursing home to guarantee ninety days of such nursing home's
operating costs payable to the state in the event that such nursing home
enters a receivership, initiates an emergency closure or experiences
imminent financial distress. Not later than January 1, 2028, the
commissioner shall communicate to nursing homes any security
instruments identified pursuant to the provisions of this subdivision in
a form and manner prescribed by the commissioner. The provisions of
this subsection shall not apply if the commissioner fails to identify any
such security instruments, or determines that such security instruments
are not financially feasible.
(2) On and after July 1, 2028, each nursing home subject to a beneficial
ownership interest of an investment