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| Public Act 098-0438 | ||||
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AN ACT concerning State government.
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Be it enacted by the People of the State of Illinois,
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represented in the General Assembly:
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Section 5. The Hospital Basic Services Preservation Act is | ||||
amended by changing Section 10 and by adding Section 30 as | ||||
follows: | ||||
(20 ILCS 4050/10)
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Sec. 10. Hospital Basic Services Preservation Fund.
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(a) There is created in the State treasury the Hospital | ||||
Basic Services Preservation Fund. The Fund shall be | ||||
administered by the State Treasurer to collateralize loans from | ||||
financial institutions for capital projects necessary to | ||||
maintain certain basic services required for the efficient and | ||||
effective operation of essential community hospital providers | ||||
who otherwise may not be able to meet financial institution | ||||
credit standards for issuance of a standard commercial loan. | ||||
The Fund shall consist of all public and private moneys donated | ||||
or transferred to the Fund for the purpose of enabling | ||||
essential community hospitals to continue to provide basic | ||||
quality health care services that are subject to and meet | ||||
standards of need under the Health Facilities Planning Act. All | ||||
public funds deposited into the Fund shall be subject to | ||||
appropriation by the General Assembly. | ||||
(b) If the State Treasurer determines that any public | ||
moneys in the Hospital Basic Services Preservation Fund are no | ||
longer necessary to collateralize loans from financial | ||
institutions under this Section, the Treasurer may transfer any | ||
unobligated and unexpended moneys from the Hospital Basic | ||
Services Preservation Fund into the General Revenue Fund. If | ||
all amounts from every collateralization of basic service loans | ||
from eligible expenses related to completing, attaining, or | ||
upgrading basic services under existing agreements have been | ||
returned to the Hospital Basic Services Preservation Fund and | ||
have been transferred by the State Treasurer into the General | ||
Revenue Fund, the Treasurer shall file with the Index | ||
Department of the Office of the Secretary of State a | ||
declaration to that effect and shall notify the Clerk of the | ||
House of Representatives, the Secretary of the Senate, and the | ||
Legislative Reference Bureau of the filing of the declaration. | ||
Upon such filing and notification, this Act is repealed as | ||
provided in Section 30 of this Act.
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(Source: P.A. 94-648, eff. 1-1-06.) | ||
(20 ILCS 4050/30 new) | ||
Sec. 30. Repealer. This Act is repealed upon the occurrence | ||
of the conditions set forth in subsection (b) of Section 10 of | ||
this Act. | ||
(30 ILCS 105/5.659 rep.)
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Section 15. The State Finance Act is amended by repealing | ||
Section 5.659 upon the repeal of the Hospital Basic Services | ||
Preservation Fund Act as set forth in Section 30 of that Act. | ||
Section 99. Effective date. This Act takes effect upon | ||
becoming law.
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