senate Bill S7387A

Signed By Governor
2013-2014 Legislative Session

Relates to the refinancing of outstanding indebtedness of certain not-for-profit hospitals

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Archive: Last Bill Status Via A9021 - Signed by Governor


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed by Governor

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Actions

view actions (13)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Nov 21, 2014 signed chap.445
Nov 10, 2014 delivered to governor
Jun 20, 2014 returned to assembly
passed senate
3rd reading cal.1675
substituted for s7387a
Jun 20, 2014 substituted by a9021d
ordered to third reading cal.1675
committee discharged and committed to rules
Jun 16, 2014 print number 7387a
amend and recommit to finance
May 20, 2014 reported and committed to finance
May 14, 2014 referred to health

Votes

view votes

Jun 20, 2014 - Rules committee Vote

S7387A
24
0
committee
24
Aye
0
Nay
0
Aye with Reservations
0
Absent
1
Excused
0
Abstained
show Rules committee vote details

May 20, 2014 - Health committee Vote

S7387
14
0
committee
14
Aye
0
Nay
3
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show committee vote details

Bill Amendments

Original
A (Active)
Original
A (Active)

Co-Sponsors

S7387 - Details

See Assembly Version of this Bill:
A9021D
Law Section:
Public Health Law
Laws Affected:
Amd §2872, add §2874-b, Pub Health L; amd §§3 & 5, add §7-c, NYS Med Care Fac Fin Ag Act; amd §12, Chap 934 of 1985

S7387 - Summary

Relates to the refinancing of outstanding indebtedness of certain not-for-profit hospitals.

S7387 - Sponsor Memo

S7387 - Bill Text download pdf

                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  7387

                            I N  S E N A T E

                              May 14, 2014
                               ___________

Introduced by Sens. GOLDEN, DILAN -- read twice and ordered printed, and
  when printed to be committed to the Committee on Health

AN  ACT  to  amend  the public health law and the New York state medical
  care facilities finance agency act, in relation to providing  for  the
  refinancing  of  outstanding  indebtedness  of  certain not-for-profit
  hospitals; to amend chapter 934 of the  laws  of  1985,  amending  the
  public  health  law  and  the  New  York state medical care facilities
  finance agency act relating to authorizing issuance of special  hospi-
  tal  project  bonds on behalf of certain secured hospital borrowers to
  assist in providing adequate health care to  low  income  persons,  in
  relation  to  extending  the provisions of such chapter; and providing
  for the repeal of certain provisions upon expiration thereof

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1. Section 2872 of the public health law is amended by adding
a new subdivision 3-b to read as follows:
  3-B. "ELIGIBLE SECURED HOSPITAL BORROWER".  A NOT-FOR-PROFIT  HOSPITAL
CORPORATION  ORGANIZED  UNDER THE LAWS OF THIS STATE, WHICH HAS FINANCED
OR REFINANCED A PROJECT OR  PROJECTS  PURSUANT  TO  SECTION  SEVEN-A  OF
SECTION  ONE OF CHAPTER THREE HUNDRED NINETY-TWO OF THE LAWS OF NINETEEN
HUNDRED SEVENTY-THREE, AND FOR WHICH SPECIAL HOSPITAL PROJECT BONDS,  AS
DEFINED  IN  PARAGRAPH  (D)  OF  SUBDIVISION  THREE  OF SECTION THREE OF
SECTION ONE OF CHAPTER THREE HUNDRED NINETY-TWO OF THE LAWS OF  NINETEEN
HUNDRED SEVENTY-THREE, REMAIN OUTSTANDING.
  S  2.  The public health law is amended by adding a new section 2874-b
to read as follows:
  S 2874-B. REFINANCING MORTGAGE  LOANS  TO  ELIGIBLE  SECURED  HOSPITAL
BORROWERS.  ELIGIBLE  SECURED HOSPITAL BORROWERS, AS DEFINED IN SUBDIVI-
SION THREE-B OF SECTION TWENTY-EIGHT HUNDRED SEVENTY-TWO OF  THIS  ARTI-
CLE,  SHALL  BE  AUTHORIZED TO REFINANCE ANY MORTGAGE LOAN FINANCED WITH
THE  PROCEEDS  OF  SPECIAL  HOSPITAL  PROJECT  BONDS,  WHICH  LOANS  ARE
OUTSTANDING  AS  OF THE EFFECTIVE DATE OF THIS SECTION.  A MORTGAGE LOAN
TO AN ELIGIBLE SECURED HOSPITAL  BORROWER,  AS  DEFINED  IN  SUBDIVISION
THREE-B  OF  SECTION  TWENTY-EIGHT  HUNDRED SEVENTY-TWO OF THIS ARTICLE,

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.

Co-Sponsors

S7387A (ACTIVE) - Details

See Assembly Version of this Bill:
A9021D
Law Section:
Public Health Law
Laws Affected:
Amd §2872, add §2874-b, Pub Health L; amd §§3 & 5, add §7-c, NYS Med Care Fac Fin Ag Act; amd §12, Chap 934 of 1985

S7387A (ACTIVE) - Summary

Relates to the refinancing of outstanding indebtedness of certain not-for-profit hospitals.

S7387A (ACTIVE) - Sponsor Memo

S7387A (ACTIVE) - Bill Text download pdf

                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 7387--A

                            I N  S E N A T E

                              May 14, 2014
                               ___________

Introduced by Sens. GOLDEN, DILAN -- read twice and ordered printed, and
  when  printed  to  be committed to the Committee on Health -- reported
  favorably from said  committee  and  committed  to  the  Committee  on
  Finance  --  committee  discharged, bill amended, ordered reprinted as
  amended and recommitted to said committee

AN ACT to amend the public health law and the  New  York  state  medical
  care  facilities  finance agency act, in relation to providing for the
  refinancing of  outstanding  indebtedness  of  certain  not-for-profit
  hospitals;  to  amend  chapter  934  of the laws of 1985, amending the
  public health law and the  New  York  state  medical  care  facilities
  finance  agency act relating to authorizing issuance of special hospi-
  tal project bonds on behalf of certain secured hospital  borrowers  to
  assist  in  providing  adequate  health care to low income persons, in
  relation to extending the provisions of such  chapter;  and  providing
  for the repeal of certain provisions upon expiration thereof

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Section 2872 of the public health law is amended by  adding
a new subdivision 3-b to read as follows:
  3-B.  "ELIGIBLE SECURED HOSPITAL BORROWER".  A NOT-FOR-PROFIT HOSPITAL
CORPORATION ORGANIZED UNDER THE LAWS OF THIS STATE, WHICH  HAS  FINANCED
OR  REFINANCED  A  PROJECT  OR  PROJECTS  PURSUANT TO SECTION SEVEN-A OF
SECTION ONE OF CHAPTER THREE HUNDRED NINETY-TWO OF THE LAWS OF  NINETEEN
HUNDRED  SEVENTY-THREE, AND FOR WHICH SPECIAL HOSPITAL PROJECT BONDS, AS
DEFINED IN PARAGRAPH (D)  OF  SUBDIVISION  THREE  OF  SECTION  THREE  OF
SECTION  ONE OF CHAPTER THREE HUNDRED NINETY-TWO OF THE LAWS OF NINETEEN
HUNDRED SEVENTY-THREE, REMAIN OUTSTANDING.
  S 2. The public health law is amended by adding a new  section  2874-b
to read as follows:
  S  2874-B.  REFINANCING  MORTGAGE  LOANS  TO ELIGIBLE SECURED HOSPITAL
BORROWERS. 1. ELIGIBLE SECURED HOSPITAL BORROWERS, AS DEFINED IN  SUBDI-
VISION THREE-B OF SECTION TWENTY-EIGHT HUNDRED SEVENTY-TWO OF THIS ARTI-
CLE,  SHALL  BE  AUTHORIZED TO REFINANCE ANY MORTGAGE LOAN FINANCED WITH
THE  PROCEEDS  OF  SPECIAL  HOSPITAL  PROJECT  BONDS,  WHICH  LOANS  ARE

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.

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