CA SB1458

Amends Health and Safety Code Section 32130.6 to modify financing rules for hospital districts established under the Local Health Care District Law.

Establishes a $2,000,000 maximum limit specifically on consolidated lines of credit used to repay pre-January 1, 2010 debts, with a 20-year repayment period for such consolidations.

Maintains existing 5-year repayment requirement for standard lines of credit secured by accounts receivable or anticipated tax revenues, allowing districts to establish new lines of credit to repay previous ones.

Prohibits districts from increasing taxes to repay lines of credit unless the tax increase is passed through the voter approval process specified in Government Code Section 53750 et seq.

Declared an urgency statute effective immediately upon approval by the Governor on July 9, 2010.