The $867 billion farm bill passed by Congress allows for the refinancing of certain rural hospital debt, according to the American Hospital Association.
A farm bill conference report states that the legislation authorizes the refinancing of debt obligation of rural hospitals as an eligible loan or loan guarantee "if the assistance would help preserve access to health service in a rural community and meaningfully improve the financial position of the hospital."
Rural hospitals seeking refinancing of debt must meet the federal government’s financial feasibility and adequacy of security requirements.
The House passed the bill on Dec. 12, while the Senate passed it on Dec. 11. President Donald Trump is expected to sign it soon.