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California lawmakers approve emergency loan program for hospitals

MADERA COUNTY, Calif. (KFSN) -- Senate Bill/Assembly Bill 122 has been approved by legislators in Sacramento.  It is now on Governor Gavin Newsom's desk waiting to be signed.  The bill will create the Distressed Hospital Loan Program, aimed at helping struggling hospitals throughout the state.

Bill directing loans to Madera Hospital, other distressed facilities to hit Newsom's desk

A trio of state lawmakers have announced a “major victory” in the effort to address the state’s hospital closure crisis.

SB/AB 112 would create the Distressed Hospital Loan Program, funded by up to $150 million for interest-free loans to nonprofit and public hospitals in “significant financial distress. It was approved in both the Senate and Assembly, and now awaits the signature of Gov. Gavin Newsom.