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 of 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."

Notably, the definition of "Hospital facilities" has been expanded to include office facilities that are at least 80% intended for lease to direct providers of health care, provided they are related to other hospital facilities and deemed necessary by the authority for financing purposes. Additionally, the definition of "Project costs" has been detailed 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 healthcare financing in the state.

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