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Title: Section 400.24 - Charges in connection with certain health care facility financings

Effective Date


Section 400.24 Charges in connection with certain health care facility financings. (Public Health Law, Sections 2868, 2881, Public Authorities Law, Section 2976-a(3)). In connection with the issuance of bonds, notes, or other obligations issued by public benefit corporations (which for purposes of this section shall include the Dormitory Authority of the State of New York and industrial development agencies (IDAs) created pursuant to Title 1 of Article 18-A of the General Municipal Law or any other provision of law) for the financing of hospital projects approved by the Commissioner for which reimbursement is provided pursuant to Article 28 of the Public Health Law, the Commissioner shall charge for the operational period of such financing which shall be from occupancy date to mortgage discharge, an annual charge of three-tenths of one percent of the mortgage loan, for inspection, regulation, supervision and audit payable monthly to the State Department of Health by the owner or operator of the hospital project. Adjustments of charges for the operational period shall be made by adjusting future operational period payments. For purposes of this section, the term "hospital" shall have the same meaning as is set forth in Section 2801(1) of the Public Health Law.


VOLUME C (Title 10)