Bill > HB97

This bill authorizes the New Mexico Finance Authority to make rural health care project loans to qualifying rural health care providers, up to $500,000 per loan, for the planning, development, and operation of rural health care projects or the purchase of an existing medical practice in a rural community. The loans have a 10-year term with an interest rate of half the Wall Street Journal prime rate, and the repayment terms include interest-only payments for the first two years followed by principal and interest payments for the remainder of the loan. The bill also creates a rural health care project revolving fund to hold the loan repayments, and appropriates $7.5 million from the general fund to this fund for the authority to use for making the loans and covering administrative costs.

Budget and Finance, Health and Social Services

https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legtype=B&legno=97&year=22