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 |
Jun 16, 2014 |
amend and recommit to finance |
May 20, 2014 |
reported and committed to finance |
May 14, 2014 |
referred to health |
Senate Bill S7387
Signed By Governor2013-2014 Legislative Session
Sponsored By
(R, C, IP) Senate District
Archive: Last Bill Status Via A9021 - Signed by Governor
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
Votes
Bill Amendments
co-Sponsors
(D) Senate District
2013-S7387 - Details
- 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
2013-S7387 - Sponsor Memo
BILL NUMBER:S7387 TITLE OF BILL: An act to amend the public health law and the New York state medical care facilities finance agency act, in relation to provid- ing 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 hospital 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 PURPOSE OR GENERAL IDEA OF BILL: To permit financially distressed hospi- tals, which have existing capital indebtedness under the former "Secured Hospital Loan Program" to realize annual cash flow savings through the refinancing of such existing debt at lower rates without increasing the amount of debt or the final maturity of such debt. SUMMARY OF SPECIFIC PROVISIONS: Sections 1 through 11 amend various provisions of the Public Health Law and Chapter 392 of the Laws of 1973, constituting the NYS Medical Care Facilities Finance Agency Act, to authorize the refinancing of existing debt which is secured under the former "secured hospital loan program" for financially distressed hospi- tals. These sections provide that refinanced debt for such hospitals will be secured in the same manner as original debt financed under the
2013-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
(D) Senate District
2013-S7387A (ACTIVE) - Details
- 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
2013-S7387A (ACTIVE) - Sponsor Memo
BILL NUMBER:S7387A TITLE OF BILL: 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 hospital 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 PURPOSE OR GENERAL IDEA OF BILL: To permit financially distressed hospitals, which have existing capital indebtedness under the former "Secured Hospital Loan Program" to realize annual cash flow savings through the refinancing of such existing debt at lower rates without increasing the amount of debt or the final maturity of such debt. SUMMARY OF SPECIFIC PROVISIONS: Sections 1 through 11 amend various provisions of the Public Health Law and Chapter 392 of the Laws of 1973, constituting the NYS Medical Care Facilities Finance Agency Act, to authorize the refinancing of existing debt which is secured under the former "secured hospital loan program" for financially distressed hospitals. These sections provide that refinanced debt for such hospitals will be secured in the same manner as original debt financed
2013-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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