Bill > SB1019

This bill modifies provisions relating to hospital investments and service areas by making several key changes. First, it increases the percentage of funds that certain hospitals can invest from 25% to 50%, expanding their investment options to include mutual funds, bonds with high ratings and short maturities, money-market investments, and combinations thereof. The investment provisions apply only to hospitals that receive less than 3% (changed from 1%) of their annual revenues from municipal, county, or state taxes. The bill also modifies rules about hospital service areas, allowing hospitals to purchase, operate, or lease related facilities with fewer restrictions, particularly in third and fourth classification counties. Additionally, the bill requires city approval for hospitals that want to expand outside city boundaries if they have recently received municipal funds. The changes aim to provide hospitals with more financial flexibility and potential for growth while maintaining some oversight to protect existing local healthcare infrastructure. The bill repeals and replaces sections of Missouri Revised Statutes related to hospital districts and investments, creating new provisions that broaden hospitals' operational and investment capabilities.

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https://www.senate.mo.gov/26info/BTS_Web/Bill.aspx?SessionType=R&BillID=422