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VermontH.5832025-2026 SessionHouseWALLET

An act relating to clinical decision making

Sponsored By: Alyssa Black (Democratic)

Signed by Governor

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Bill Overview

Analyzed Economic Effects

2 provisions identified: 1 benefits, 1 costs, 0 mixed.

Providers keep control over patient care decisions

Beginning July 1, 2026, private equity groups and hedge funds involved with Vermont health care facilities cannot control clinical decisions. This covers tests, referrals, treatment plans, patient loads, work hours, care standards, staffing levels, and medical records. Funds also cannot control hiring, firing, or discipline based on clinical skills, or choices of medical equipment and supplies. The limits cover payer and provider contracts, service prices, and coding and billing decisions. Funds and entities they control cannot use agreements to get around these limits. Nonclinical business help remains allowed only when a licensed provider keeps final responsibility or approval, without actual control by investors. Providers harmed by violations can sue in Vermont Superior Court for court-ordered relief, actual damages, reasonable costs, and attorney’s fees. The law sets no fixed amount for damages or fees.

Health care businesses must disclose fund ownership

Beginning July 1, 2026, covered Vermont health care facilities and management services organizations face new ownership reporting duties. Those with private equity or hedge fund interests on June 1, 2026, must report by March 1, 2027. Reports go to the Green Mountain Care Board and include owner and controlling-party names, business addresses, and business identification numbers. They also include significant investors, management organizations for facilities, an organizational chart, and the latest annual profit-and-loss statement and balance sheet. An ownership or investment interest means direct or indirect equity above 5%. Significant investors include private equity groups with an interest, investors above 10%, and investors controlling or operating the business. Covered entities without fund interests on June 1, 2026, must attest by March 1, 2027, that they currently have none. After March 1, 2027, covered entities must report newly acquired or changed fund interests. Nursing homes, health care staffing companies, federally qualified health centers, and telehealth-only providers are exempt from reporting. Most reported information is public; financial statements, Social Security numbers used as tax identifiers, and personal contact details remain protected. The Board must publish an ownership summary by July 1, 2027, and every two years thereafter. It can share information with state oversight agencies; the Health Care Advocate must keep shared financial statements confidential. Knowing failures to report carry penalties up to $50 per day, capped at $10,000 per year. Each material false statement carries a penalty up to $25,000. The Attorney General can seek penalties and court orders to enforce reporting.

Sponsors & Cosponsors

Sponsor

  • Alyssa Black

    Democratic • House

Cosponsors

  • Tiffany Bluemle

    Democratic • House

Roll Call Votes

No roll call votes available for this bill.

Actions Timeline

  1. House message: Governor approved bill on June 15, 2026

    5/29/2026House

  2. Signed by Governor on June 15, 2026

    5/29/2026House

  3. Delivered to Governor on June 9, 2026

    5/29/2026House

  4. House message: House concurred in Senate proposal of amendment

    5/22/2026House

  5. Senate proposal of amendment concurred in

    5/20/2026House

  6. Action Calendar: Action postponed until May 20, 2026

    5/20/2026House

  7. Rep. Black of Essex moved to postpone action until May 20, 2026, which was agreed to

    5/19/2026House

  8. Action Calendar: Senate Proposal of Amendment

    5/19/2026House

  9. Notice Calendar: Senate Proposal of Amendment

    5/18/2026House

  10. Senate Message: Passed in concurrence with proposal of amendment

    5/15/2026Senate

  11. Read 3rd time & passed in concurrence with proposal of amendment

    5/14/2026Senate

  12. Pending third reading, Senator Lyons proposal of amendment, agreed to

    5/14/2026Senate

  13. Proposal of amendment to be offered by Senator(s) Lyons

    5/14/2026Senate

  14. New Business/Third Reading

    5/14/2026Senate

  15. 3rd reading ordered

    5/13/2026Senate

  16. Proposal of amendment by Committee on Health and Welfare agreed to

    5/13/2026Senate

  17. Read 2nd time, reported favorably with proposal of amendment by Senator Lyons for Committee on Health and Welfare

    5/13/2026Senate

  18. Favorable report with proposal of amendment by Committee on Health and Welfare

    5/13/2026Senate

  19. Unfinished Business/Second Reading

    5/13/2026Senate

  20. Favorable report with proposal of amendment by Committee on Health and Welfare

    5/12/2026Senate

  21. New Business/Second Reading

    5/12/2026Senate

  22. Favorable report with proposal of amendment by Committee on Health and Welfare

    5/8/2026Senate

  23. Second Reading

    5/8/2026Senate

  24. Entered on Notice Calendar

    5/8/2026Senate

  25. Read 1st time & referred to Committee on Health and Welfare

    3/25/2026Senate

Bill Text

  • As Enacted (ACT 133)Opens in a new window

    6/18/2026

    PDF

  • As Passed by Both Chambers

    6/2/2026

    PDF

  • As Passed by Both Chambers (Unofficial)

    6/2/2026

    PDF

  • Senate Proposal of Amendment

    5/18/2026

    PDF

  • Senate Proposal of Amendment (Unofficial)

    5/18/2026

    PDF

  • As Passed by the House

    3/26/2026

    PDF

  • As Passed by the House (Unofficial)

    3/26/2026

    PDF

  • As Introduced

    1/5/2026

    PDF

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