The bill would create the Distressed Hospital Loan Program, which would provide loans to nonprofit hospitals in financial distress. The program would run through 2031.
To get a loan, hospitals must submit a plan outlining how the money would help them return to financial viability.
Lawmakers will debate the measure in the coming days. Esmeralda Soria, the state representative for Madera County, co-wrote the bill.
“The loan program proposed by Ms. Soria is a solution that could provide immediate relief to struggling hospitals,” the Bee wrote. “The [Central] Valley’s lawmakers should get behind it and convince their colleagues in Sacramento to do the same. Madera County should not be without a hospital — nor should any community in California.”
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