CaliforniaCalifornia Health Facilities Financing Authority Act: nondesignated hospitals: loan repayment.
What it does
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.
More detail
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 32 months after the date of the loan, and discharge the loan within 60 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.
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Where it stands
- Introduced
- Passed Assembly
- Passed Senate
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Feb 2From committee: Filed with the Chief Clerk pursuant to Joint Rule 56.Latest
- Jan 31Died pursuant to Art. IV, Sec. 10(c) of the Constitution.Major
- 2025
- Apr 30From committee: Do pass and re-refer to Com. on APPR. (Ayes 16. Noes 0.) (April 29). Re-referred to Com. on APPR.Minor
- Apr 29
- Vote recorded Do pass and be re-referred to the Committee on [Appropriations]. Result: pass.Lower
- Apr 24Re-referred to Com. on HEALTH. pursuant to Assembly Rule 96.Minor
- Apr 22Re-referred to Com. on HUM. S.Minor
- Apr 21From committee chair, with author's amendments: Amend, and re-refer to Com. on HUM. S. Read second time and amended.Major
- Mar 11In committee: Hearing postponed by committee.
- Feb 18Referred to Coms. on HUM. S. and JUD.Minor
- Feb 7From printer. May be heard in committee March 9.
- Feb 6Read first time. To print.Introduced