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Ways and Means advances $44 million loan guarantee to stabilize rural hospital amid debate over Unclaimed Property fund
Summary
The Joint Committee on Ways and Means reported House Bill 4075 do pass on March 3; the bill directs the State Treasury to guarantee up to $44 million from the Unclaimed Property and Estates Fund to back a rural hospital stabilization loan, prompting debate over education funding, precedent, and litigation risk.
The Joint Committee on Ways and Means on March 3 advanced House Bill 4075, a measure that would authorize the State Treasury to guarantee up to $44,000,000 from the Unclaimed Property and Estates Fund to secure an eligible rural hospital stabilization loan intended to address cash shortages or refinance existing debt. The capital construction subcommittee recommended the bill be amended as proposed and reported out do pass.
Supporters said the loan guarantee is a narrow, time-limited tool to keep a remote coastal hospital open. "If this doesn't happen... people will die," Sen. Brock Smith said, arguing the…
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