The bill introduces Chapter 233, "Clinical Decision Making," to the Vermont Statutes Annotated, which establishes definitions related to health care facilities, providers, and entities involved in health care delivery, specifically addressing the roles of private equity groups and hedge funds. It emphasizes that clinical decision-making must remain under the control of licensed health care providers, explicitly prohibiting interference from non-licensed entities in areas such as patient care plans and hiring practices.

Additionally, the bill requires health care facilities and management services organizations to report their ownership and control structures to the Green Mountain Care Board by March 1, 2027, including any involvement of private equity groups or hedge funds. It mandates the disclosure of specific ownership details and imposes civil penalties for non-compliance or material misrepresentations in these reports, with fines reaching up to $25,000. The Green Mountain Care Board is also tasked with publishing a biennial report summarizing the ownership information, while maintaining the confidentiality of individual taxpayer IDs that are Social Security numbers. The act is set to take effect on July 1, 2026.