The bill amends Florida Statutes to redefine "health facility" to encompass a broader range of non-profit entities, including limited liability companies that provide various health services such as hospital care and nursing home services. It grants the overseeing authority new powers to offer secured or unsecured loans for project costs and to refinance existing debts. Additionally, the bill introduces requirements for health facilities to operate and maintain projects financed by the authority, enhancing the financial and operational framework for these entities while ensuring accountability.

Moreover, the bill establishes new protocols for the closure of not-for-profit hospitals, requiring a 120-day notice period and public notification in local newspapers. It mandates that hospitals provide detailed notices about the impacts of their closure on local health networks and hold three public meetings prior to closing. The bill also modifies provisions related to revenue bonds, allowing for loan payments to be included in financial agreements and enhancing bondholder security. It sets criteria for property tax exemptions, stating that exemptions cannot be granted if a related hospital has closed its emergency department without establishing a new one within a specified timeframe. These amendments are retroactive to January 1, 2025, and will first apply to the 2025 tax roll.

Statutes affected:
H 229 Filed: 154.205, 154.213, 154.225, 154.235, 154.219, 154.221, 154.229, 154.247
H 229 c1: 154.205, 154.213, 154.225, 154.219, 154.221, 154.229, 154.247
H 229 c2: 154.205, 154.213, 154.225, 154.235, 154.219, 154.221, 154.229, 154.247