The bill amends and reenacts section 16-29A-3 of the Code of West Virginia, 1931, to provide updated definitions related to the West Virginia Hospital Finance Authority Act. Key definitions include "Authority," which refers to the West Virginia Hospital Finance Authority, and "Board," which denotes the governing body managing the authority. The bill also clarifies terms such as "Bond," "Construction," "Direct provider of health care," "Hospital," "Hospital facilities," "Hospital loan," "Note," "Project costs," "Revenue," "Secretary," and "Veterans skilled nursing facility," ensuring a comprehensive understanding of the terminology used within the context of the Act.

Notably, the bill specifies that "Hospital facilities" now explicitly includes office facilities that are at least 80% intended for lease to direct providers of health care, provided they are related to other hospital facilities. Additionally, "Project costs" are defined to encompass a wide range of expenses associated with the acquisition or construction of hospital facilities, including refinancing existing hospital debt to facilitate borrowing from the authority. These changes aim to enhance the operational framework of the West Virginia Hospital Finance Authority and improve the provision of healthcare services in the state.

Statutes affected:
Introduced Version: 16-29A-3
Engrossed Version: 16-29A-3
Enrolled Version: 16-29A-3