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Bill > HB413
MS HB413
Mississippi Hospital Recovery Trust Program; create to provide grants to public hospitals at high financial risk.
summary
Introduced
01/10/2025
01/10/2025
In Committee
01/10/2025
01/10/2025
Crossed Over
Passed
Dead
02/04/2025
02/04/2025
Introduced Session
2025 Regular Session
Bill Summary
An Act To Establish The Mississippi Hospital Recovery Trust Program In The Department Of Finance And Administration To Provide Grants To Public Hospitals At High Financial Risk To Help Those Hospitals Be More Financially Viable So That They Can Continue To Operate And Be Available To Provide Health Care Services To The Communities In Which They Are Located; To Create A Special Fund To Be Known As The Mississippi Hospital Recovery Trust Fund, Which Shall Be Administered By The Department And Expended For The Sole Purpose Of Providing Grants To Public Hospitals Under The Provisions Of This Act; To Provide That To Be Eligible For A Grant, A Public Hospital Must Apply For The Grant And Include Such Documentation As Specified By The Department Showing That The Hospital Is At High Financial Risk; To Provide That The Amount Of Each Grant Shall Be Determined By The Department, With Priority For Larger Grants Being Given To Public Hospitals That Are At Immediate Risk Of Closing And Whose Survival Is Critically Essential To The Community In Which It Is Located; To Provide That Within Five Business Days After Receipt Of An Application With The Required Documentation Showing That The Public Hospital Is At High Financial Risk, The Department Shall Approve The Application And Distribute The Grant To The Hospital; To Require The Department To Make Annual Reports To The Joint Legislative Budget Committee About Each Grant Made Under This Act; And For Related Purposes.
AI Summary
This bill establishes the Mississippi Hospital Recovery Trust Program to provide financial assistance to public hospitals facing severe financial challenges. The program will create a special trust fund administered by the Department of Finance and Administration, which can receive money from legislative appropriations, federal funds, and donations. To qualify for a grant, a public hospital must demonstrate "high financial risk," which is defined as being on the verge of closure due to factors like poor profits, high debt, large uncompensated care, low cash reserves, or difficulty paying staff. The department will determine grant amounts, prioritizing hospitals at immediate risk of closing and critically important to their communities. Hospitals must apply with documentation proving their financial strain, and the department must approve and distribute grants within five business days of receiving a complete application. Additionally, the department is required to submit annual reports to the Joint Legislative Budget Committee detailing each grant's recipient, amount, and how the funds were used. The program aims to help public hospitals remain operational and continue providing essential healthcare services to their local communities.
Committee Categories
Health and Social Services
Sponsors (1)
Last Action
Died In Committee (on 02/04/2025)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://billstatus.ls.state.ms.us/2025/pdf/history/HB/HB0413.xml |
| BillText | https://billstatus.ls.state.ms.us/documents/2025/html/HB/0400-0499/HB0413IN.htm |
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