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SB 681 - Appropriates Funding to Rural Hospitals - North Carolina Key Vote

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Title: Appropriates Funding to Rural Hospitals

Vote Smart's Synopsis:

Vote to pass a bill that appropriates funding to rural hospitals.

Highlights:

 

  • Defines “Commission” as the Local Government Commission (Sec. 1.2).

  • Defines “eligible hospital” as a health care facility located in a development tier 1 or development tier 2 area that is unable to sustain operations for more than 3 years from the date of application for a loan under the Program (Sec. 1.2).

  • Establishes the Rural Health Care Stabilization Program to give out loans for supporting eligible hospitals in rural areas that are experiencing financial crises because of the operation of oversized and outdated facilities, and because of recent changes to the viability of health care delivery in their communities (Sec. 1.2).

  • Specifies that these loans will be provided at below-market interest rates with structured repayment terms so that eligible hospitals can transition to sustainable, efficient, and more proportionately sized health care service models in their communities (Sec. 1.2).

  • Authorizes UNC to administer the Program and carry out (Sec. 1.2):

    • Establishing an application period and a process for submitting Program applications;

    • Assessing plans submitted;

    • Evaluating the ability of an applicant to repay the loan;

    • Providing recommendations to the Commission for Program eligibility;

    • Negotiating terms of a proposed loan agreement;

    • Determining security interests for enforcing loan payments;

    • Implementing approved loan agreements; and

    • Any other responsibilities necessary for the implementation of the Program.

  • Requires applicants to develop a hospital stabilization plan and to submit this to UNC Health Care during the application period (Sec. 1.2).

  • Authorizes UNC Health Care to help an applicant in revising their Plan, including negotiating loan terms (Sec. 1.2).

  • Establishes that UNC Health Care cannot award a Program loan without the approval of the Commission (Sec. 1.2).

  • Requires UNC Health Care to publicly publish a report each year by November 1, on the Rural Health Care Stabilization Fund (Sec. 1.2).

  • Requires referendums to determine the tax type and amount levied for this Act (Sec. 2.1).

Full Bill Text

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