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Illinois 31st State Senate District
Bond Supports Measure to Fund Illinois Hospitals
from the Illinois Senate
State Senator Michael Bond
FOR IMMEDIATE RELEASE FOR MORE INFORMATION
February 27, 2009 Jeffrey Gaunt 217-782-0995
BOND SUPPORTS MEASURE TO FUND ILLINOIS HOSPITALS
SPRINGFIELD, IL - State Senator Michael Bond (D - Grayslake) joined with his colleagues in the Senate this week to pass the Interfund Borrowing Act of 2009, a measure that will bring more hundreds of millions of dollars to Illinois hospitals.
The purpose of the Interfund Borrowing Act is to capture over $900 million dollars of federal matching money for hospitals statewide from the Hospital Assessment Plan. In order to qualify for this money, the hospitals need to pay a tax that is backdated to July of 2008. Since the deadline to pay this tax is March 1st, the state needs to borrow from other existing funds now. The borrowed money will be returned in total, with interest, by April 1st.
“I’m extremely pleased to be able to bring this much needed money to Illinois hospitals,” Bond said. “Improving health care for all Illinoisans is an important part of my agenda. We cannot miss any opportunity to bring our hospitals extra funding, especially hospitals that target underserved communities.”
One hospital in Bond’s 31st Senate District, the Midwestern Regional Medical Center in Zion, would receive approximately $100,000 from the initiative.
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