Stava-Murray backs HB4728 to mandate quarterly reports from developmental disability facilities tied to asset managers

Rep. Anne Stava-Murray (D-81st) cast a Yes vote on HB4728, legislation mandating quarterly disclosure requirements for developmental disability facilities under the control or ownership of asset management companies, during the 104th General Assembly on May 31, 2026, the Illinois House reports; the measure cleared the chamber by a 117-0 vote.

The bill's description is: "DD FACILITY-ASSET MGMT COMPANY."

Below, we provide an overview drawn from the legislation itself, along with clarifications aimed at explaining its core elements.

Essentially, the bill stipulates that, by Dec. 31, 2026, state agencies licensing certain facilities and providers serving individuals with developmental disabilities must establish rules for comprehensive quarterly disclosures if those organizations are owned or influenced by asset management companies. The legislation requires advance notification and submission of agreements for significant asset or control transfers, and prohibits transactions resulting in excessive facility debt, use of borrowed funds for dividends, or fee arrangements likely to cause financial hardship. Any violations are defined as unlawful practice under the Consumer Fraud and Deceptive Business Practices Act, triggering notification to the attorney general and associated labor unions, publication of violations for public access, and prompt posting on agency websites. The act becomes enforceable immediately upon being signed into law.

Legislative action for HB4728 included concurrence with 'Senate Committee Amendment No. 1' in the House.

Stava-Murray is a 2008 graduate of Dartmouth College, holding a bachelor's degree.

Since her election in 2019, Stava-Murray has served the 81st House District after succeeding former representative David S. Olsen.

Illinois legislation advances through a many-step legislative process beginning with introduction in either legislative chamber. From there, bills undergo committee scrutiny, debate on the chamber floor, and votes in both the House and Senate, before moving to the governor's desk for final approval or veto. Operating on a biennial cycle, the General Assembly sees thousands of bills filed each session, though only a number move forward to become state law.