HB271--HOSPITALS
SPONSOR: Kalberloh
Thisbillauthorizes,butdoesnotrequire,theboardoftrustees
ofcertainhospitalstoinvestupto50%ofthehospital's
availablefunds,definedinthebill,intocertainmutualfunds,
bonds,moneymarketinvestments,oracombinationthereof. This
permissiononlyappliesifthehospitalreceiveslessthan3%of
itsannualrevenuefrommunicipal,county,orstatetaxes,aswell
asifthehospitalreceiveslessthan3%ofitsannualrevenuefrom
appropriatedfundsfromthemunicipalityinwhichthehospitalis
located. Followingthat,theremainingpercentageofanyavailable
fundsnotinvestedasallowedarerequiredtobeinvestedintoany
investmentinwhichtheStateTreasurerisallowedtoinvest.
Additionally,withtheexceptionofcountiesofthethirdand
fourthclassification wheretherealreadyexistsahospital
organizedunderChapter96,205,or206,RSMo,countycommissions
areauthorizedtoestablish,construct,equip,improve,extend,
repair,andmaintainpublichospitals,engageinhealthcare
activities,andissuebonds.Thisbillremovestheexceptionfor
hospitalsestablishedundertheprovisionsofChapters96and206
incountiesofthethirdandfourthclassification.
Thebillauthorizes,butdoesnotrequire,theboardofdirectors
ofanyhospitaldistrictthatreceiveslessthan3%ofitsannual
revenuesfromhospitaldistrictorstatetaxestoinvestupto50%
ofitsavailablefunds,definedinthebill,intocertainmutual
funds,bonds,moneymarketinvestments,oracombinationthereof.
Followingthat,theremainingpercentageofanyavailablefundsnot
investedasallowedarerequiredtobeinvestedintoanyinvestment
inwhichtheStateTreasurerisallowedtoinvest.