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Officials say EITC reimbursements not received; GMH and DOC leaseback deposits were not made
Summary
Officials told the committee that the $35 million annual lease payment pledged for the Guam Health Care Campus financing was never deposited because the expected Earned Income Tax Credit (EITC) reimbursement was not received; related annual lease payments to DOC were likewise not funded.
Legislators asked about long‑standing financing arrangements for the Guam Health Care Campus (a leaseback financing) and the Department of Corrections modernization plan. Officials told the committee that Public Law 36‑56 pledged a $35 million annual lease payment for up to 40 years, to be funded by EITC reimbursement in FY2022 and then from the general fund in subsequent years. The…
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