New YorkLaw sets a $21.8 billion limit on hospital and nursing home bonds
The agency can refinance or repay existing project debt above the limit only if the new debt’s present-value payments do not exceed the old debt’s.
What it does
The law sets a $21.8 billion combined limit on the agency’s hospital and nursing home project bonds and notes. Refinancing or repaying old debt can put the total above that limit only if the new debt’s present-value payments are no greater than the old debt’s.
Argument forThe $21.8 billion limit could give the agency more room to borrow for hospital and nursing home projects.
Argument againstA higher borrowing limit could let the agency take on more debt for hospital and nursing home projects, which may leave more debt to repay.
More detail
The law sets a $21.8 billion combined limit on the agency’s hospital and nursing home project bonds and notes. The limit covers bonds and notes the New York State Medical Care Facilities Finance Agency issues for hospital and nursing home projects. Refinancing or repaying existing project debt may put the total above the limit only if the new debt’s present-value debt payments are no greater than the old debt’s. The act took effect immediately.
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Where it stands
- Introduced
- Passed 1st Chamber
- Passed 2nd Chamber
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Aug 28SIGNED CHAP.281Became Law
- Aug 21DELIVERED TO GOVERNORTo Governor
- Jun 4RETURNED TO ASSEMBLY
- Vote recorded Assembly Vote. Result: pass.Lower
- Vote recorded Floor Vote. Result: pass.Upper
- Jun 4PASSED SENATEPassed 2nd Chamber
- Jun 43RD READING CAL.1786
- Jun 4SUBSTITUTED FOR S10641
- Jun 4REFERRED TO RULESMinor
- Jun 4DELIVERED TO SENATE
- Jun 4PASSED ASSEMBLYPassed 1st Chamber
- Jun 3ORDERED TO THIRD READING RULES CAL.467
- Jun 3RULES REPORT CAL.467
- Jun 3REPORTED
- Jun 3REPORTED REFERRED TO RULESMinor
- Jun 1REFERRED TO WAYS AND MEANSIntroduced
Healthcare