NY State Senate Bill S5139

Current Bill Status - Passed Senate

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

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Actions

view actions (9)

	Assembly Actions - Lowercase Senate Actions - UPPERCASE
May 04, 2022	referred to ways and means delivered to assembly passed senate
Jan 24, 2022	advanced to third reading
Jan 20, 2022	2nd report cal.
Jan 19, 2022	1st report cal.276
Jan 05, 2022	referred to health
May 11, 2021	reported and committed to finance
Feb 25, 2021	referred to health

Votes

view votes

May 4, 2022 - floor Vote

S5139

floor

Aye

Nay

Absent

Excused

Abstained

Jan 19, 2022 - Health committee Vote

S5139

committee

Aye

Nay

Aye with Reservations

Absent

Excused

Abstained

May 11, 2021 - Health committee Vote

S5139

committee

Aye

Nay

Aye with Reservations

Absent

Excused

Abstained

Co-Sponsors

S5139 (ACTIVE) - Details

See Assembly Version of this Bill:: A4593
Law Section:: Public Health Law
Laws Affected:: Amd §2815-a, Pub Health L

S5139 (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.

S5139 (ACTIVE) - Sponsor Memo

S5139 (ACTIVE) - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5139
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                             February 25, 2021
                                ___________
 
 Introduced  by  Sen.  RIVERA -- read twice and ordered printed, and when
   printed to be committed to the Committee on Health
 
 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.

                                                            LBD08170-01-1

 S. 5139                             2
 
 tal  to  expand  and improve preventive or primary care capacity, AND TO
 AID PARTICIPATING BORROWERS IN ACHIEVING A FINANCIALLY AND OPERATIONALLY
 SUSTAINABLE PRACTICE;
   e.  That  eligible  uses of funds so loaned to participating borrowers
 shall include but not be limited to: (i) eligible costs as described  in
 paragraph   (f)  of  this  subdivision,  attributable  to  the  proposed
 construction, reconstruction, renovation, rehabilitation,  refurbishing,
 expansion,  upgrading and equipping of a participating borrower's commu-
 nity-based health care facility; (ii) reserves  for  credit  enhancement
 including loan guarantees; (iii) loan loss and debt service reserves and
 subordinated  loans;  [and] (iv) facility financing, including loans for
 predevelopment, acquisition and construction,  permanent  financing  and
 bridge  loans;  AND  (V)  ADDITIONAL  NONCAPITAL  EXPENDITURES WHICH MAY
 INCLUDE WORKING CAPITAL AND DEBT RESTRUCTURING, RETIREMENT AND REFINANC-
 ING;
   f. That eligible costs under this section shall include,  but  not  be
 limited  to, all hard construction costs and associated professional and
 other costs, furniture, fixtures and equipment, including health  infor-
 mation  technology,  acquisition,  predevelopment due diligence, initial
 operating expenses and working capital ASSOCIATED  WITH  COMMUNITY-BASED
 HEALTH  CARE  FACILITY  PROJECTS.  WORKING  CAPITAL AS SET FORTH IN THIS
 PARAGRAPH MAY ALSO INCLUDE  EXPENSES  ASSOCIATED  WITH  THE  SUSTAINABLE
 OPERATION  OF  A  COMMUNITY-BASED  HEALTH CARE PRACTICE SUCH AS EXPENSES
 REQUIRED TO RECRUIT AND TRAIN STAFF, REDESIGN FACILITIES TO  ACCOMMODATE
 NEW  PROTOCOLS,  TO PURCHASE, UPGRADE, OR ENHANCE, TECHNOLOGY TO SUPPORT
 TELEHEALTH, AND OTHER ANCILLARY COSTS ASSOCIATED WITH DELIVERING PATIENT
 SERVICES. WORKING CAPITAL SHALL ALSO INCLUDE  EXPENSES  ASSOCIATED  WITH
 RESTRUCTURING  OR  RETIRING  DEBT, INCLUDING COSTS TO REDUCE, RETIRE, OR
 REFINANCE LONG-TERM LIABILITIES SUCH AS MORTGAGE,  BANK  LOANS,  CAPITAL
 LEASES  AND  OTHER  LIABILITIES,  PAYMENTS OF DEBT SERVICE FOR LONG-TERM
 LIABILITIES, AND COSTS FOR RESTRUCTURING  INCLUDING  PROFESSIONAL  FEES,
 PENALTIES, AND INTEREST;
   j.  That revolving capital fund monies shall be held in trust and used
 for the benefit of eligible community-based health care [facility] capi-
 tal projects AUTHORIZED PURSUANT TO THIS SECTION; and
   § 3. This act shall take effect immediately.

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The New York State Senate

senate Bill S5139

Sponsored By

Current Bill Status - Passed Senate

Your Voice

Actions

Votes

May 4, 2022 - floor Vote

Floor Vote: May 4, 2022

Jan 19, 2022 - Health committee Vote

Health Committee Vote: Jan 19, 2022

May 11, 2021 - Health committee Vote

Health Committee Vote: May 11, 2021

Co-Sponsors

S5139 (ACTIVE) - Details

S5139 (ACTIVE) - Summary

S5139 (ACTIVE) - Sponsor Memo

S5139 (ACTIVE) - Bill Text download pdf

Comments

senate Bill S5139

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Sponsored By

Gustavo Rivera

Current Bill Status - Passed Senate

Your Voice

Actions

Votes

May 4, 2022 - floor Vote

Floor Vote: May 4, 2022

Jan 19, 2022 - Health committee Vote

Health Committee Vote: Jan 19, 2022

May 11, 2021 - Health committee Vote

Health Committee Vote: May 11, 2021

Co-Sponsors

Alessandra Biaggi

Liz Krueger

Rachel May

S5139 (ACTIVE) - Details

S5139 (ACTIVE) - Summary

S5139 (ACTIVE) - Sponsor Memo

S5139 (ACTIVE) - Bill Text download pdf

Comments