MS HB365

Establishes the Mississippi Rural Hospital Loan Program in the State Department of Health to provide loans to rural hospitals (50 or fewer licensed general acute beds) for facility upgrades, staff maintenance/increases, or new health care services.

Creates the Rural Hospital Operations and Facilities Revolving Loan Fund in the State Treasury, funded by legislative appropriations, federal funds, donations, and other sources, with repaid loans returned to the fund for future issuance.

Sets loan parameters: minimum $25,000 and maximum $100,000 per facility, 1% annual interest rate, up to 20-year terms, requires $1,000 application fee, security/collateral, and completion of 100% of project costs within one year of approval.

Requires applicant hospitals to submit current financial audits showing good financial condition and maintain at least 85% of full-time employees annually throughout the loan term.

Mandates the Department of Health report annually to the Joint Legislative Budget Committee on each outstanding loan, including hospital name/location, principal amount, loan terms compliance, and how funds were used.