CA SB45

Establishes the California Acute Care Psychiatric Hospital Loan Fund to provide loans to county and city/county applicants for constructing or renovating acute care psychiatric hospitals, psychiatric health facilities, or psychiatric units in general acute care hospitals.

Requires loans funded by general obligation bonds to have an interest rate not exceeding the bond rate, while loans from other sources must be provided at zero interest.

Mandates the California Health Facilities Financing Authority develop a loan application by January 1, 2025, with initial applications due by April 1, 2025, and establishes selection criteria including unmet need, local match requirements (20-50% depending on bed count), and geographic representation.

Requires loan recipients to maintain and operate facilities for the life of the loan, with unencumbered funds reverted after 36 months (extendable at authority discretion) and authorizes an administrative fee.

Requires a report to the Department of Finance and budget/health committees within two years detailing number of projects, geographic distribution, total loan amounts, individual loan terms, and dollar amounts per project.