Bill
Bill > S1496
summary
Introduced
01/13/2026
01/13/2026
In Committee
01/13/2026
01/13/2026
Crossed Over
Passed
Dead
Introduced Session
2026-2027 Regular Session
Bill Summary
This bill requires that the assessments generated from the reorganization of a health service corporation to a mutual holding company as specified by P.L.2020, c.145 be deposited in a dedicated nonlapsing fund known as the Public Hospital Capital Fund. Specifically, the bill requires the funds paid by Horizon Blue Cross Blue Shield of New Jersey to the State as a result of its reorganization to be used to fund capital project at public hospitals. Current law does not specify how the revenue generated by the assessments will be used. This bill would require that assessments are used to fund capital projects at public hospitals in New Jersey based on the recommendations of the Legislature. No more than 25 percent of the initial assessment can be expended in any one fiscal year.
AI Summary
This bill establishes a dedicated, permanent fund called the Public Hospital Capital Fund to hold money collected from assessments related to the reorganization of a health service corporation, specifically Horizon Blue Cross Blue Shield of New Jersey, into a mutual holding company as outlined in a previous law (P.L.2020, c.145). The purpose of this fund is to finance capital improvement projects at public hospitals in New Jersey, with spending guided by legislative recommendations, and a restriction that no more than 25 percent of the initial assessment can be spent in any single fiscal year.
Committee Categories
Health and Social Services
Sponsors (2)
Last Action
Introduced in the Senate, Referred to Senate Health, Human Services and Senior Citizens Committee (on 01/13/2026)
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://www.njleg.state.nj.us/bill-search/2026/S1496 |
| BillText | https://pub.njleg.gov/Bills/2026/S1500/1496_I1.HTM |
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