real estate investment trusts (CONTAINS TEXT WITH VARYING EFFECTIVE DATES) (WHOLE SECTION TEXT EFFECTIVE UNTIL 6/15/26) (WHOLE SECTION TEXT REPEALED 6/15/26 by T. 22, §1730-A, sub-§3) 1. Definitions. As used in this section, unless the context otherwise indicates, the following terms have the following meanings. A. "Hospital" has the same meaning as in Title 36, section 2881, subsection 2. [PL 2025, c. 401, §1 (NEW); PL 2025, c. 401, §2 (AFF).] B. "Indirect ownership interest" means an ownership interest in an entity that has an ownership interest in a hospital. [PL 2025, c. 401, §1 (NEW); PL 2025, c. 401, §2 (AFF).] C. "Operational control" means to: (1) Influence or direct the actions or policies of any part of a hospital; or (2) Choose, appoint or terminate a member of a board, manager, managing member, senior employee, consultant or other individual or entity that participates in the operational oversight of a hospital. [PL 2025, c. 401, §1 (NEW); PL 2025, c. 401, §2 (AFF).] D. "Ownership interest" means possession or equity in capital, stock or profits in a hospital or ownership of real estate on which a hospital operates. [PL 2025, c. 401, §1 (NEW); PL 2025, c. 401, §2 (AFF).] E. "Private equity company" means an entity whether or not publicly traded that collects capital investments from individuals or entities. [PL 2025, c. 401, §1 (NEW); PL 2025, c. 401, §2 (AFF).] F. "Real estate investment trust" has the same meaning as in the United States Internal Revenue Code of 1986, Section 856. [PL 2025, c. 401, §1 (NEW); PL 2025, c. 401, §2 (AFF).] [PL 2025, c. 401, §1 (NEW); PL 2025, c. 401, §2 (AFF).] 2. Moratorium. A private equity company or real estate investment trust may not acquire or increase a direct or indirect ownership interest or operational control or financial control in a hospital in the State. [PL 2025, c. 401, §1 (NEW); PL 2025, c. 401, §2 (AFF).] 3. Repeal. This section is repealed June 15, 2026. [PL 2025, c. 401, §1 (NEW); PL 2025, c. 401, §2 (AFF).]
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