Authorizes $1.5 billion in bonds, to be repaid from state’s General Fund, to fund grants for construction, expansion, renovation, and equipping of qualifying children’s hospitals. Designates 72 percent of funds to qualifying private nonprofit hospitals providing comprehensive services to high volumes of children eligible for governmental programs and children with special health needs eligible for the California Children’s Services program, 18 percent of funds to University of California general acute care children’s hospitals, and 10 percent of funds to public and private nonprofit hospitals providing services to children eligible for the California Children’s Services program. Summary of estimate by Legislative Analyst and Director of Finance of fiscal impact on state and local government: State costs of $2.9 billion to pay off principal ($1.5 billion) and interest ($1.4 billion) on bonds over a 35-year period. Annual payments would average $84 million. Annual payments would be lower than this average in the initial and final few years, and somewhat higher in the intervening years.
↧
