The bill establishes the Iowa rural health transformation fund, which will be managed by the Department of Health and Human Services (HHS) and will consist of funds received from the federal rural health transformation program. This fund is separate from the state's general fund, and the money within it is not subject to reversion, meaning it will remain available for use as specified by the Centers for Medicare and Medicaid Services. Additionally, any interest or earnings generated from the fund will be credited back to it.

To ensure transparency and accountability, HHS is required to submit quarterly reports to the General Assembly detailing expenditures from the fund, including the specific cities where the funds have been utilized. Furthermore, HHS must provide copies of all financial and performance reports related to the rural health transformation program that are submitted to the federal authorities. The provisions of this bill will be repealed on October 1, 2032.

Statutes affected:
Introduced: 12C.7