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Committee discusses SB309 private‑equity ban for new private special‑education providers
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Summary
Members reviewed SB309, which would bar the State Board of Education from approving private special‑education providers owned by private‑equity companies after July 1, 2026; members noted grandfathering of existing providers and mixed stakeholder views.
The committee reviewed SB309, a proposal that would prohibit the State Board of Education from approving private providers of special‑education services that are owned or operated by private‑equity companies beginning July 1, 2026.
Tom Cosker (Committee member) read the bill language and explained the practical effect: new applications from private‑equity‑owned providers would be ineligible for approval after the effective date, while existing providers would be grandfathered. He summarized the statutory definition discussed in the bill: private equity was described as an asset class holding equity securities and operating companies that are not publicly traded.
Members said stakeholders are split. Some advocacy members signaled support for limiting private‑equity entry; provider representatives and some sector groups said they would remain neutral because their memberships include both nonprofit and for‑profit providers. One member recommended a working group to continue discussion rather than taking an immediate, firm position.
Outcome: the committee noted SB309 and recorded support from some members while others favored neutrality; no formal council endorsement was recorded during the meeting. The committee requested further discussion as needed in a working group or future session.
