Hirschauer supports HB4728 to increase transparency of asset management firms in disability care facilities

Rep. Maura Hirschauer (D-49th) cast a Yes vote for HB4728—a measure designed to improve disclosure and oversight for asset management company involvement within developmental disability facilities—during the 104th General Assembly on May 31, 2026, according to the Illinois House. The bill passed by a unanimous 117-0 margin.

The official summary refers to the act as: "DD FACILITY-ASSET MGMT COMPANY."

The following summary is derived from the actual bill and interprets provisions for clarity.

Under this bill, state agencies overseeing certain facilities and providers for individuals with developmental disabilities must, by Dec. 31, 2026, set forth rules requiring detailed quarterly reports if such facilities are owned or influenced by asset management companies. The legislation requires advance disclosure and delivery of agreements related to substantial asset or control transfers, prohibits practices that burden facilities with excessive debt, restricts the use of borrowed funds for dividends, and limits transaction fees that could risk financial instability. Any violations are categorized as unlawful under the Consumer Fraud and Deceptive Business Practices Act, prompt notification to the attorney general and labor organizations, and the publication of violations online by agencies. The law becomes effective upon enactment.

The House's recorded legislative action for HB4728 was 'Senate Committee Amendment No. 1 House Concurs.'

Hirschauer holds a BA from Colby College.

A member of the Democratic Party, Hirschauer won election to the Illinois State House in 2021, representing the 49th District after Karina Villa.

In Illinois, bills are considered through a multi-step legislative procedure that starts in either the House or Senate, undergoes committee review, moves to floor debates and votes in both chambers, and then proceeds to the governor for approval or veto. The General Assembly operates on a biennial cycle, introducing thousands of bills each session, with only a small percentage ultimately becoming law.