Bill > S865

This bill proposes to expand the moral obligation bond program by replacing references to "community hospitals" with "acute care hospitals" in existing legislation. Specifically, the bill modifies Chapter 614 of the Acts of 1968 to broaden the scope of hospitals eligible for the moral obligation bond program. A moral obligation bond is a type of municipal bond where the government is not legally required to repay the debt, but is morally expected to do so if the original issuer cannot meet its financial obligations. The bill accomplishes this by amending several sections of the existing law to systematically replace the term "community hospitals" with "acute care hospitals", effectively widening the potential pool of hospitals that can participate in this bond program. Additionally, the bill removes paragraph (12) from a specific subsection, though the specific contents of that paragraph are not detailed in the provided text. The overall intent appears to be increasing financial flexibility and support for a broader range of hospitals in the state.

Health and Social Services

https://malegislature.gov/Bills/194/S865