H.R. 7920 — Take Back Our Hospitals Act of 2026

This section establishes a prohibition on Medicare payments under title XVIII to hospitals or skilled nursing facilities owned or controlled by a covered firm (i.e., a private equity fund, a corporation owned or controlled by a private equity fund, or a real estate investment trust) or an affiliate of such a firm. Facilities owned or controlled by covered firms as of the date of enactment are excepted from the prohibition for three years; violations trigger notice, hearing, and judicial review under SSA §1128(f), with joint and several liability imposed on the covered firm or affiliate. The provision defines key terms, including "affiliate," "control" (e.g., direct or indirect ownership of 10% or more of voting securities), "corporation," "private equity fund" (i.e., an entity qualifying as an investment company under the Investment Company Act of 1940 but for certain exclusions and acting as a control person), and "real estate investment trust" (as defined in IRC §856).