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| 1 | AN ACT concerning State government.
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| 2 | Be it enacted by the People of the State of Illinois,
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| 3 | represented in the General Assembly:
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| 4 | Section 5. The Hospital Basic Services Preservation Act is | ||||||
| 5 | amended by changing Section 10 and by adding Section 30 as | ||||||
| 6 | follows: | ||||||
| 7 | (20 ILCS 4050/10)
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| 8 | Sec. 10. Hospital Basic Services Preservation Fund.
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| 9 | (a) There is created in the State treasury the Hospital | ||||||
| 10 | Basic Services Preservation Fund. The Fund shall be | ||||||
| 11 | administered by the State Treasurer to collateralize loans from | ||||||
| 12 | financial institutions for capital projects necessary to | ||||||
| 13 | maintain certain basic services required for the efficient and | ||||||
| 14 | effective operation of essential community hospital providers | ||||||
| 15 | who otherwise may not be able to meet financial institution | ||||||
| 16 | credit standards for issuance of a standard commercial loan. | ||||||
| 17 | The Fund shall consist of all public and private moneys donated | ||||||
| 18 | or transferred to the Fund for the purpose of enabling | ||||||
| 19 | essential community hospitals to continue to provide basic | ||||||
| 20 | quality health care services that are subject to and meet | ||||||
| 21 | standards of need under the Health Facilities Planning Act. All | ||||||
| 22 | public funds deposited into the Fund shall be subject to | ||||||
| 23 | appropriation by the General Assembly. | ||||||
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| 1 | (b) If the State Treasurer determines that any public | ||||||
| 2 | moneys in the Hospital Basic Services Preservation Fund are no | ||||||
| 3 | longer necessary to collateralize loans from financial | ||||||
| 4 | institutions under this Section, the Treasurer may transfer any | ||||||
| 5 | unobligated and unexpended moneys from the Hospital Basic | ||||||
| 6 | Services Preservation Fund into the General Revenue Fund. If | ||||||
| 7 | all amounts from every collateralization of basic service loans | ||||||
| 8 | from eligible expenses related to completing, attaining, or | ||||||
| 9 | upgrading basic services under existing agreements have been | ||||||
| 10 | returned to the Hospital Basic Services Preservation Fund and | ||||||
| 11 | have been transferred by the State Treasurer into the General | ||||||
| 12 | Revenue Fund, the Treasurer shall file with the Index | ||||||
| 13 | Department of the Office of the Secretary of State a | ||||||
| 14 | declaration to that effect and shall notify the Clerk of the | ||||||
| 15 | House of Representatives, the Secretary of the Senate, and the | ||||||
| 16 | Legislative Reference Bureau of the filing of the declaration. | ||||||
| 17 | Upon such filing and notification, this Act is repealed as | ||||||
| 18 | provided in Section 30 of this Act.
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| 19 | (Source: P.A. 94-648, eff. 1-1-06.) | ||||||
| 20 | (20 ILCS 4050/30 new) | ||||||
| 21 | Sec. 30. Repealer. This Act is repealed upon the occurrence | ||||||
| 22 | of the conditions set forth in subsection (b) of Section 10 of | ||||||
| 23 | this Act. | ||||||
| 24 | (30 ILCS 105/5.659 rep.)
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| 1 | Section 15. The State Finance Act is amended by repealing | ||||||
| 2 | Section 5.659 upon the repeal of the Hospital Basic Services | ||||||
| 3 | Preservation Fund Act as set forth in Section 30 of that Act. | ||||||
| 4 | Section 99. Effective date. This Act takes effect upon | ||||||
| 5 | becoming law.
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