Resolve, to Establish a Commission to Study the Role of Private
Maine Legislature, Session 132, LD 1943
Committee: Health Coverage, Insurance and Financial Services
Sponsors: PUGH, GROHOSKI

Legislative Document
No. 1943
H.P. 1302
House of Representatives, May 7, 2025
Resolve, to Establish a Commission to Study the Role of Private 
Equity in Maine's Economy and in Key Economic Sectors
Reference to the Committee on Health Coverage, Insurance and Financial Services 
suggested and ordered printed.
ROBERT B. HUNT
Clerk
Presented by Representative PUGH of Portland.
Cosponsored by Senator GROHOSKI of Hancock and
Representatives: RANA of Bangor, SATO of Gorham, SAYRE of Kennebunk, Senators: 
BENNETT of Oxford, TALBOT ROSS of Cumberland.
Sec. 1. Commission established. Resolved: That the Commission to Study Private 
Equity Firms, referred to in this resolve as "the commission," is established to study the 
role of private equity firms in the State's economy with a focus on transparency, investment 
practices and private equity's effects on key economic sectors such as energy, health care, 
housing and nursing homes.
For the purposes of this resolve, "private equity firm" means an entity that raises capital 
from investors for the purpose of purchasing a private company to operate and improve, 
and then to sell to realize a return on the investment purchase.
Sec. 2. Examination. Resolved: That the commission shall examine the following:
1. The overall portion of the State's equity markets and economy that is controlled by 
private equity, with particular attention to the portion that remains nontransparent to 
investors, markets, policy makers and the public;
2. The effect of private equity firms that carry out business in the State on national, 
state and local economies, with a focus on the long-term effects on the State's economic 
stability and public welfare;
3. The extent of the involvement of private equity firms in key sectors, including 
energy, health care, housing and nursing homes, for which there is a lack of publicly 
available information; and
4. The implications of the nonpublic nature of private equity firms on transparency, 
accountability and policy making at the state and local levels.
Sec. 3. Membership. Resolved: That, notwithstanding Joint Rule 353, the 
commission consists of the following members:
1. Two members of the Senate, appointed by the President of the Senate;
2. Two members of the House of Representatives, appointed by the Speaker of the 
House;
3. Representatives from relevant state agencies, including, but not limited to, the 
Department of Health and Human Services, the Department of Economic and Community 
Development and the Department of Financial Services, appointed by the President of the 
Senate and the Speaker of the House;
4. Two members with expertise in public policy and economic transparency, one 
appointed by the President of the Senate and one appointed by the Speaker of the House;
5. Two members with expertise in the health care, housing or nursing home sectors, 
including advocates or industry professionals, one appointed by the President of the Senate 
and one appointed by the Speaker of the House;
6. Two academic experts in economics, business or public policy, one appointed by the 
President of the Senate and one appointed by the Speaker of the House;
7. Representatives from relevant consumer advocacy groups focused on economic 
fairness and transparency in markets, appointed by the President of the Senate and the 
Speaker of the House; and
8. One member who is a corporate attorney who specializes in governance, regulatory 
compliance and risk management, appointed by the President of the Senate.
Sec. 4. Duties. Resolved: That the commission shall:
1. Collect and analyze data on the market shares, transparency practices and economic 
effects of private equity firms that carry out business in the State, including the economic 
cost to the State and the potential loss of state revenue;
2. Consult with experts in economics, public policy and in the energy, health care, 
housing and nursing home sectors; and
3. Issue reports with findings and recommendations to the Joint Standing Committee 
on Health Coverage, Insurance and Financial Services no later than December 3, 2025, 
which may include legislative proposals to address the effects of private equity firms on 
the State's economy and key economic sectors, such as energy, health care, housing and 
nursing homes. The joint standing committee may submit a bill related to this report to the 
SUMMARY
This resolve establishes the Commission to Study Private Equity Firms to conduct a 
comprehensive study of the role of private equity firms in the State's economy, with a focus 
on transparency, investment practices and private equity's effects on key sectors such as 
energy, health care, housing and nursing homes.  The commission must issue a report with 
its findings and recommendations to the Joint Standing Committee on Health Coverage, 
Insurance and Financial Services no later than December 3, 2025, which may include 
legislative proposals to address the effects of private equity firms on the State's economy 
and on key economic sectors, such as energy, health care, housing and nursing homes.