Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 06, 2016 |
referred to health returned to senate died in assembly |
Jun 10, 2015 |
referred to health delivered to assembly passed senate |
Jun 02, 2015 |
advanced to third reading |
Jun 01, 2015 |
2nd report cal. |
May 28, 2015 |
1st report cal.1060 |
Apr 17, 2015 |
referred to health |
Senate Bill S4790
2015-2016 Legislative Session
Sponsored By
(R, C, IP) Senate District
Archive: Last Bill Status - In Senate Committee Health Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
Votes
co-Sponsors
(R, C) Senate District
2015-S4790 (ACTIVE) - Details
- Current Committee:
- Senate Health
- Law Section:
- Public Health Law
- Laws Affected:
- Amd §2801-a, Pub Health L; amd §§1676 & 1680, Pub Auth L
2015-S4790 (ACTIVE) - Sponsor Memo
BILL NUMBER:S4790 TITLE OF BILL: An act to amend the public health law and the public authorities law, in relation to establishing a private equity pilot program PURPOSE: Authorizes establishment of a pilot program allowing for increased capital investment in health care facilities. SUMMARY OF PROVISIONS: Section one amends Public Health Law (PHL) § 2801-a to authorize the Commissioner of Health to establish a pilot program to assist in restructuring health care delivery systems by allowing for increased capital investment in health care facilities. Under this pilot, the Public Health and Health Planning Council (PHHPC) shall approve the establishment of no more than ten business corporations. In order to be eligible for the program, the business corporation must affiliate with an academic medical institution or teaching hospital and shall not have any of its stock, or any stock of its direct or indirect owners, traded on the public stock exchange and the PHHPC may require disclosure of the identity of stockholders. Business Corporations established under this section shall be eligible to participate in debt financing provided by the Dormitory Authority of the State of New York, local development corporations and economic
2015-S4790 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4790 2015-2016 Regular Sessions I N S E N A T E April 17, 2015 ___________ Introduced by Sen. HANNON -- read twice and ordered printed, and when printed to be committed to the Committee on Health AN ACT to amend the public health law and the public authorities law, in relation to establishing a private equity pilot program THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 2801-a of the public health law is amended by adding a new subdivision 17 to read as follows: 17. (A) THE COMMISSIONER IS AUTHORIZED TO ESTABLISH A PILOT PROGRAM TO ASSIST IN RESTRUCTURING HEALTH CARE DELIVERY SYSTEMS BY ALLOWING FOR INCREASED CAPITAL INVESTMENT. PURSUANT TO THE PILOT PROGRAM, THE PUBLIC HEALTH AND HEALTH PLANNING COUNCIL SHALL APPROVE THE ESTABLISHMENT, IN ACCORDANCE WITH THE PROVISIONS OF PARAGRAPHS (F), (G) AND (H) OF THIS SUBDIVISION AND SUBDIVISION THREE OF THIS SECTION, OF NO MORE THAN TEN BUSINESS CORPORATIONS FORMED UNDER THE BUSINESS CORPORATION LAW. SUCH BUSINESS CORPORATIONS SHALL AFFILIATE, THE EXTENT OF THE AFFILIATION TO BE DETERMINED BY THE COMMISSIONER, WITH AT LEAST ONE ACADEMIC MEDICAL INSTITUTION OR TEACHING HOSPITAL APPROVED BY THE COMMISSIONER. A BUSI- NESS CORPORATION SHALL NOT BE ELIGIBLE TO PARTICIPATE IN THIS PROGRAM IF ANY OF ITS STOCK, OR THAT OF ANY OF ITS DIRECT OR INDIRECT OWNERS, IS OR WILL BE TRADED ON A PUBLIC STOCK EXCHANGE OR ON AN OVER-THE-COUNTER MARKET. (B) NOTWITHSTANDING ANY PROVISION OF LAW TO THE CONTRARY, BUSINESS CORPORATIONS ESTABLISHED PURSUANT TO THIS SUBDIVISION SHALL BE DEEMED ELIGIBLE TO PARTICIPATE IN DEBT FINANCING PROVIDED BY THE DORMITORY AUTHORITY OF THE STATE OF NEW YORK, LOCAL DEVELOPMENT CORPORATIONS AND ECONOMIC DEVELOPMENT CORPORATIONS. (C) THE FOLLOWING PROVISIONS OF THIS CHAPTER SHALL NOT APPLY TO BUSI- NESS CORPORATIONS ESTABLISHED PURSUANT TO THIS SUBDIVISION: (I) PARA- GRAPH (B) OF SUBDIVISION THREE OF THIS SECTION, RELATING TO STOCKHOLD- ERS, OTHER THAN PRINCIPAL STOCKHOLDERS; (II) PARAGRAPH (C) OF EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD10474-01-5
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