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Bill

S 1235

Expanding Partnerships for Innovation and Competitiveness Act

119th Congress Introduced by Chris Coons and 3 co-sponsors

Bill S 1235 allows New York's Medical Care Facilities Finance Agency to issue bonds, enhancing funding for healthcare facilities and improving services for patients statewide.

Introduced in Senate
3
WeVote Research Nonpartisan
Bill Summary · S 1235

Summary of Bill S 1235

Bill Information

  • Bill Number: S 1235
  • Title: Relates to the ability of the New York state medical care facilities finance agency to issue certain bonds and notes
  • Status: Substituted by A3224
  • Introduced: January 08, 2025
  • Classification: Bill

Purpose and Intent

Bill S 1235 aims to enhance the financial capabilities of the New York State Medical Care Facilities Finance Agency (MCFFA) by allowing it to issue specific types of bonds and notes. The intent is to provide medical care facilities with improved access to funding, which can be crucial for infrastructure development, modernization, and operational sustainability.

Key Provisions

While the specific text of the bill is not provided, the following key provisions are generally expected in legislation of this nature:

  • Bond Issuance Authority: The bill would grant the MCFFA the authority to issue bonds and notes, which can be used to finance capital projects for medical care facilities.
  • Financial Flexibility: It may include provisions that allow for greater flexibility in the terms and conditions under which these financial instruments can be issued.
  • Support for Healthcare Infrastructure: By facilitating funding, the bill aims to support the improvement and expansion of healthcare facilities across New York State.

Affected Parties

  • Medical Care Facilities: Hospitals, nursing homes, and other healthcare providers that rely on financing for capital projects would benefit directly from this bill.
  • Patients and Communities: Improved facilities can lead to better healthcare services for patients and communities, enhancing overall public health outcomes.
  • Investors: Entities interested in purchasing bonds issued by the MCFFA would also be affected, as the bill may change the risk and return profile of these investments.

Legislative Timeline

  • January 08, 2025: Bill S 1235 was introduced and referred to the Committee on Corporations, Authorities and Commissions.
  • February 20, 2025: The bill was amended and recommitted to the same committee, with a new print number (1235A).
  • March 04, 2025: The committee was discharged and the bill was committed to the Rules Committee, ordered to third reading, and subsequently substituted by A3224.

Related Bills

  • A 3224: This is the companion bill to S 1235, which likely contains similar provisions or objectives regarding the financing capabilities of the MCFFA.

Conclusion

Bill S 1235 represents a legislative effort to bolster the financial infrastructure of healthcare facilities in New York State. By enabling the MCFFA to issue bonds and notes, the bill seeks to improve access to necessary funding for medical care facilities, ultimately benefiting healthcare delivery across the state. The substitution of this bill by A3224 indicates a legislative process that is actively refining the approach to healthcare financing in New York.

Compiled from official sources — confirm details with the bill’s official record.

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