Relates to the ability of the New York state medical care facilities finance agency to issue certain bonds and notes

Summary

The legislation updates the New York State Medical Care Facilities Finance Agency’s borrowing limits, allowing up to $21.8 billion in new hospital and nursing‑home project bonds and notes. It also requires that any refinancing or repayment bonds keep the overall debt‑service cost no higher than the obligations they replace, and mandates that the agency maintain required reserve fund levels when issuing secured bonds. These changes aim to give the agency more financing flexibility while protecting the state’s fiscal health.

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