IL HB2654

Creates the Hospital Basic Services Preservation Fund administered by the State Treasurer to collateralize loans from financial institutions for capital projects at essential community hospitals.

Fund consists of public and private donations to enable community hospitals to provide basic quality health care services meeting standards under the Health Facilities Planning Act.

State Treasurer may transfer unobligated and unexpended moneys from the Fund to the General Revenue Fund if determined no longer necessary for loan collateralization.

Act automatically repeals when all loan collateralization amounts have been returned to the Fund and transferred to the General Revenue Fund, with the Treasurer notifying the Secretary of State and General Assembly.