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  • NJ A2254
  • Concerns hospital asset transformation program.
Introduced
(1/27/2016)
In Committee
(1/27/2016)
Crossed OverPassedSignedDead/Failed/Vetoed
2016-2017 Regular Session
This bill amends provisions of the "New Jersey Health Care Facilities Financing Authority Law," P.L.1972, c.29 (C.26:2I-1 et seq.), governing the hospital asset transformation program in the New Jersey Health Care Facilities Financing Authority, to expand the meaning of "the termination of the provision of hospital acute care services." This bill would allow the program to assist, in circumstances where the commissioner deems it appropriate, a nonprofit hospital that is seeking to reduce its licensed capacity by at least 175 beds. Specifically under the bill, "the termination of the provision of hospital acute care services" is to include, but not be limited to: an actual closure of, or other action taken to terminate acute care services at, a nonprofit hospital, or, subject to the commissioner's discretion, a reduction of at least 175 beds in its licensed acute care bed capacity, which occurred after licensure by the Department of Health and in accordance with the provisions of a certificate of need (CN) issued pursuant to current law, without regard to any pending appeal by a third party of the issuance of the CN. Currently, the hospital asset transformation program allows a qualifying nonprofit hospital terminating acute care services at a specific location to access low-cost financing to help pay existing debt, close services in an orderly fashion, and allow another facility to adequately handle patients from the closed facility. The program allows the authority to issue State-backed bonds, secured by a contract with the State Treasurer, on behalf of hospitals meeting certain criteria.
Health and Senior Services
Introduced, Referred to Assembly Health and Senior Services Committee  (on 1/27/2016)
 
 

Date Chamber Action Description
1/27/2016 A Introduced, Referred to Assembly Health and Senior Services Committee
Date Motion Yea Nay Other
None specified