Title: Establishes a Revolving Fund for Rural Hospitals During an Emergency
Title: Establishes a Revolving Fund for Rural Hospitals During an Emergency
Vote to concur with the senate substitute and pass a bill that establishes a revolving fund for rural hospitals during an emergency.
Defines “authority” as the Kentucky Economic Development Finance Authority (Sec. 1).
Defines “rural hospital” as any hospital located within the county of the commonwealth having a population of less than 50,000 according to the most recent annual estimates of the resident population issued by the United States Census Bureau (Sec. 1).
Establishes the rural hospital operations and facilities revolving fund for the authority to provide loans to rural hospitals (Sec. 1).
Specifies that any loan issued by the authority will not exceed a 20 year term and will be utilized by the Cabinet for Economic Development to assist a rural hospital in providing needed direct health care services for the citizens of the commonwealth by (Sec. 1):
Maintaining or upgrading the hospital’s facilities;
Maintaining or increasing the current staff of the rural hospital; or
Providing health care services that are not currently available to citizens.
Requires the Cabinet for Economic Development to (Sec. 1):
Determine the terms and conditions of each loan, including the repayment plan;
Monitor the performance of the rural hospital; and
By October 1, 2020 and each October 1 thereafter, provide a report to the Interim Joint Committee on Appropriations and Revenue information about each outstanding loan issued, including:
The name and location of the rural hospital;
The amount of principal originally loaned;
The terms of the loan and whether the rural hospital is currently meeting those terms; and
How the rural hospital used the loan related to facilities, staff, or additional services.
Title: Establishes a Revolving Fund for Rural Hospitals During an Emergency
Title: Establishes a Revolving Fund for Rural Hospitals During an Emergency
Title: Establishes a Revolving Fund for Rural Hospitals During an Emergency