SPONSOR: Kalberloh
COMMITTEE ACTION: Voted "Do Pass" by the Standing Committee on Health and Mental Health by a vote of 12 to 0.
This bill authorizes, but does not require, the board of trustees of certain hospitals to invest up to 50% of the hospital's available funds, defined in the bill, into certain mutual funds, bonds, money-market investments, or a combination thereof. This permission only applies if the hospital receives less than 3% of its annual revenue from municipal, county, or state taxes, as well as if the hospital receives less than 3% of its annual revenue from appropriated funds from the municipality in which the hospital is located. Following that, the remaining percentage of any available funds not invested as allowed are required to be invested into any investment in which the State Treasurer is allowed to invest.
Additionally, with the exception of counties of the third and fourth classification where there already exists a hospital organized under Chapter 96, 205, or 206, RSMo, county commissions are authorized to establish, construct, equip, improve, extend, repair, and maintain public hospitals, engage in health care activities, and issue bonds. This bill removes the exception for hospitals established under the provisions of Chapters 96 and 206 in counties of the third and fourth classification.
The bill authorizes, but does not require, the board of trustees of any hospital district that receives less than 3% of its annual revenues from hospital district or state taxes to invest up to 50% of its available funds, defined in the bill, into certain mutual funds, bonds, money-market investments, or a combination thereof. Following that, the Board must invest the remaining percentage of any available funds not required for immediate disbursement into any investment in which the State Treasurer is allowed to invest.
This bill is similar to HB 271 (2025).
PROPONENTS: Supporters say that right now there are limitations on hospitals to provide services outside of their borders. In the state there are large pockets of need, and by bringing services to people, it is possible to improve health outcomes throughout the state, and particularly in rural areas, in a cost- effective manner. Testifying in person for the bill were Representative Kalberloh; and Craig Thompson, Golden Valley Memorial Healthcare.
OPPONENTS: There was no opposition voiced to the committee.
Written testimony has been submitted for this bill. The full written testimony and witnesses testifying online can be found under Testimony on the bill page on the House website.
Statutes affected: