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Committee approves bill allowing hospitals, hospital districts to use reorganization bankruptcy
Summary
A committee voted to let memorial hospitals and hospital districts use a reorganization bankruptcy tool to restructure debts and remain open, and adopted an amendment making the law effective immediately upon the governor's signature. Supporters said the change is a tool to keep rural hospitals operating; the committee approved the measure unanimously.
The Senate Labor and Health committee voted to advance Senate File 5, a bill giving memorial hospitals and hospital districts the ability to seek reorganization bankruptcy to restructure debt without triggering county‑wide bankruptcy proceedings. Senator Crum and hospital association witnesses said the tool is designed to help struggling rural…
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