assembly Bill A4593

2021-2022 Legislative Session

Relates to use of monies from the community health care revolving capital fund

download bill text pdf

Sponsored By

Current Bill Status - In Assembly Committee


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

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Actions

view actions (1)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Feb 04, 2021 referred to ways and means

Co-Sponsors

A4593 (ACTIVE) - Details

See Senate Version of this Bill:
S5139
Law Section:
Public Health Law
Laws Affected:
Amd §2815-a, Pub Health L

A4593 (ACTIVE) - Summary

Permits the use of monies from the community health care revolving capital fund to enable participating borrowers to operate a financially and operationally sustainable practice.

A4593 (ACTIVE) - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4593
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 4, 2021
                                ___________
 
 Introduced  by  M.  of  A.  GOTTFRIED  --  read once and referred to the
   Committee on Ways and Means
 
 AN ACT to amend the public health law, in relation to the use of  monies
   from the community health care revolving capital fund
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Subdivision 2 of section 2815-a of the public  health  law,
 as  added  by  section 5 of part J of chapter 60 of the laws of 2015, is
 amended to read as follows:
   2. Revolving capital  fund.  The  dormitory  authority  shall,  within
 amounts  appropriated,  establish  the  community  health care revolving
 capital fund. Monies in the revolving capital fund shall be utilized for
 the purpose of making loans to  qualifying  participating  borrowers  to
 improve  access  to  affordable  capital financing to expand and improve
 capacity to provide health care in the State, AND TO ENABLE  PARTICIPAT-
 ING  BORROWERS  TO  OPERATE  A FINANCIALLY AND OPERATIONALLY SUSTAINABLE
 PRACTICE. Funds shall be transferred by the commissioner to the dormito-
 ry authority for deposit in the revolving capital fund in an  amount  as
 authorized  by  appropriation.  Monies in the fund shall be: (a) held by
 the authority pursuant to this  section  as  custodian  pursuant  to  an
 agreement  with  the commissioner until transferred to the administrator
 pursuant to this section, and (b) invested by the authority  in  accord-
 ance  with the investment guidelines of the authority during said custo-
 dial period. All investment income shall be credited to,  and  shall  be
 deposited in, the revolving capital fund.
   §  2.  Paragraphs c, e, f, and j of subdivision 4 of section 2815-a of
 the public health law, as added by section 5 of part J of chapter 60  of
 the laws of 2015, are amended to read as follows:
   c.  That  monies  in such revolving capital fund shall be utilized for
 the purpose of making loans to qualifying  participating  borrowers,  to
 provide participating borrowers with improved access to affordable capi-
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.