103RD GENERAL ASSEMBLY
State of Illinois
2023 and 2024
SB2941

 

Introduced 1/31/2024, by Sen. Win Stoller

 

SYNOPSIS AS INTRODUCED:
 
210 ILCS 85/17 new

    Amends the Hospital Licensing Act. Provides that a municipality, political subdivision, State agency, or other governmental entity that owns or operates a hospital under any law authorizing or establishing a hospital or hospital district shall, relative to the delivery of health care services, have, in addition to any authority vested by law, the authority and legal capacity concerning the specified use and investment of funds. Provides that conversion of public funds for the benefit of any individual concerning the specified use and investment of funds shall constitute grounds for review and action by the Attorney General or the applicable State's Attorney. Provides that a municipality, political subdivision, State agency, or other governmental entity exercising the powers granted for the use and investment of funds shall be subject to all applicable public purchasing requirements and the requirements of the Open Meetings Act.


LRB103 37932 CES 68064 b

 

 

A BILL FOR

 

SB2941LRB103 37932 CES 68064 b

1    AN ACT concerning regulation.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Hospital Licensing Act is amended by adding
5Section 17 as follows:
 
6    (210 ILCS 85/17 new)
7    Sec. 17. Hospital investment.
8    (a) Notwithstanding any provision of law to the contrary,
9a municipality, political subdivision, State agency, or other
10governmental entity that owns or operates a hospital under any
11law authorizing or establishing a hospital or hospital
12district shall, with respect to the delivery of health care
13services, have, in addition to any authority vested by law,
14the following authority and legal capacity:
15        (1) to expend funds, including public funds in any
16    form, or devote the resources of the hospital or hospital
17    district for the successful performance of the hospital or
18    hospital district's public purpose or the promotion of
19    health, provided that the expenditures in whatever form
20    are reasonable under the facts and circumstances of the
21    situation; and
22        (2) to invest hospital funds in any security
23    recommended by a registered investment adviser or by a

 

 

SB2941- 2 -LRB103 37932 CES 68064 b

1    bank or trust company exercising its trust powers; funds
2    invested under this paragraph must be invested according
3    to written investment policies and written investment
4    procedures established by the governmental entity.
5    (b) The conversion of public funds for the benefit of any
6individual in the exercise of the powers granted under this
7Section shall constitute grounds for review and action by the
8Attorney General or the applicable State's Attorney.
9    (c) A municipality, political subdivision, State agency,
10or other governmental entity exercising the powers granted
11under this Section shall be subject to all applicable public
12purchasing requirements and the requirements of the Open
13Meetings Act.