To authorize rural health facilities to use certain Federal agricultural credit assistance for the purpose of refinancing debt obligations, updating necessary services, technology, and equipment, and supporting ancillary needs.
About This Bill
Committee
Latest Action · January 18, 2024
Referred to the Subcommittee on Commodity Markets, Digital Assets, and Rural Development.
The Rural Health Care Facilities Revitalization Act allows rural health care facilities, including hospitals, clinics, and long-term care facilities, to access federal agricultural credit assistance to refinance existing debt, upgrade technology and equipment like telehealth systems, and cover operating expenses and reserves. The bill applies to health care facilities in areas with populations of 50,000 or fewer that are not adjacent to larger cities, and prioritizes assistance for facilities in economically distressed areas, regions with persistent poverty, or those serving socially vulnerable communities. To qualify, a facility must demonstrate that the assistance would help preserve health services in their rural community, meaningfully improve their financial situation, and meet standard financial feasibility requirements. The Secretary of Agriculture has authority to waive certain eligibility requirements for facilities that are insolvent or located in areas of persistent poverty or significant economic distress. The legislation takes effect six months after enactment once it becomes law.
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