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Title and Summary Analysis Arguments and Rebuttals Text of Proposed Law

PROP
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CHILDREN'S HOSPITAL BOND ACT. GRANT PROGRAM.
INITIATIVE STATUTE.

OFFICIAL TITLE AND SUMMARY                    PREPARED BY THE ATTORNEY GENERAL

CHILDREN'S HOSPITAL BOND ACT. GRANT PROGRAM. INITIATIVE STATUTE.

  • Authorizes $980,000,000 in bonds, to be repaid from state's General Fund, to fund the construction, expansion, remodeling, renovation, furnishing and equipping of children's hospitals.
  • Designates that 80 percent of bond proceeds go to hospitals that focus on children with illnesses such as leukemia, cancer, heart defects, diabetes, sickle cell anemia and cystic fibrosis.
  • Requires that qualifying children's hospitals provide comprehensive services to a high volume of children eligible for governmental programs and meet other requirements.
  • Designates that 20 percent of bond proceeds go to University of California general acute care hospitals.

Summary of Legislative Analyst's Estimate of Net State and Local Government Fiscal Impact:

  • State cost of about $2 billion over 30 years to pay off both the principal ($980 million) and the interest ($933 million) costs of the bonds. Payments of about $64 million per year.




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