Bill Sponsor
California Assembly Bill 2098
Session 20232024
California Health Facilities Financing Authority Act: nondesignated hospitals: loan repayment.
Active
Active
Vetoed by Governor on Sep 28, 2024
First Action
Feb 5, 2024
Latest Action
Sep 28, 2024
Origin Chamber
Assembly
Type
Bill
Bill Number
2098
State
California
Session
20232024
Sponsorship by Party
Democrat
Author
Assembly Votes (4)
Senate Votes (4)
Summary
Under existing law, the California Health Facilities Financing Authority Act (act) authorizes the California Health Facilities Financing Authority to, among other things, make loans from the continuously appropriated California Health Facilities Financing Authority Fund to participating health institutions, as defined, for financing or refinancing the acquisition, construction, or remodeling of health facilities. Under the act, the authority is authorized to issue revenue bonds to provide the funds for achieving these purposes. Existing law appropriates $40,000,000 to provide cashflow loans to nondesignated public hospitals, as needed, due to the financial impacts of the COVID-19 public health emergency. Existing law requires the nondesignated public hospitals participating in this loan program to repay and discharge the loan within 24 months of the date of the loan. This bill would extend the repayment requirements for nondesignated public hospitals participating in the loan program that had received a loan approval from, and entered into a loan and security agreement with, the authority by requiring those hospitals to begin monthly repayments on the loan 24 months after the date of the loan, and discharge the loan within 72 months of the date of the loan, as prescribed. The bill would require the monthly payments to be amortized over the term of the loan, at 0% interest. By removing restrictions limiting the expenditure of moneys appropriated for purposes of these loans, the bill would make an appropriation.
Documents (9)
Sources
Record Created
Feb 6, 2024 12:17:40 PM
Record Updated
Oct 11, 2024 12:29:23 PM