§ 2815-a. Community health care revolving capital fund. 1.\nDefinitions. As used in this section, the following words and phrases\nshall have the following meanings unless a different meaning is plainly\nrequired by the context:\n a. "Administrator" shall mean a not for profit Community Development\nFinancial Institution CDFI that is certified by the U.S. Treasury\ncommunity development financial fund, has experience financing projects\nin the New York state healthcare sector and otherwise meets the\nrequirements of this section.\n b. "Dormitory authority" or "authority" shall mean the dormitory\nauthority of the state of New York created by title four of article\neight of the public authorities law which has succeeded to the powers,\nfunctions and duties of the medical care facilities finance agency\npursuant to chapter eighty-three of the laws of nineteen hundred\nninety-five.\n c. "Participating borrower" shall mean a community-based health care\nprovider, which for the purposes of this section, shall be defined as\ndiagnostic and treatment center licensed or granted an operating\ncertificate under article twenty-eight of this chapter, a mental health\nclinic licensed or granted an operating certificate under article\nthirty-one of the mental health law; or an alcohol and substance abuse\ntreatment clinic licensed or granted an operating certificate under\narticle thirty-two of the mental hygiene law, each organized under the\nlaws of this state.\n d. "Revolving capital fund" shall mean community health care revolving\ncapital fund authorized to be established by the dormitory authority and\nadministered pursuant to this section.\n 2. Revolving capital fund. The dormitory authority shall, within\namounts appropriated, establish the community health care revolving\ncapital fund. Monies in the revolving capital fund shall be utilized for\nthe purpose of making loans to qualifying participating borrowers to\nimprove access to affordable capital financing to expand and improve\ncapacity to provide health care in the State. Funds shall be transferred\nby the commissioner to the dormitory authority for deposit in the\nrevolving capital fund in an amount as authorized by appropriation.\nMonies in the fund shall be: (a) held by the authority pursuant to this\nsection as custodian pursuant to an agreement with the commissioner\nuntil transferred to the administrator pursuant to this section, and (b)\ninvested by the authority in accordance with the investment guidelines\nof the authority during said custodial period. All investment income\nshall be credited to, and shall be deposited in, the revolving capital\nfund.\n 3. Administration agreement. The commissioner and the authority shall\nenter into an agreement, subject to the approval of the director of the\nbudget, for the purpose of administering the funds in the revolving\ncapital fund through an administrator. A copy of such agreement, and any\namendments thereto, shall be provided to the chair of the senate finance\ncommittee, the director of the division of budget, and the chair of the\nassembly ways and means committee. The agreement shall specify that the\nadministrator shall administer the community health care revolving\ncapital fund in a manner that will benefit the public health by\nencouraging improvements in the community health care delivery system in\nthe state, in compliance with all applicable laws, rules, regulations\nand other requirements.\n 4. Agreement with the administrator. The dormitory authority shall, in\nconsultation with the commissioner, enter into an agreement with the\nadministrator. Such agreement shall provide for the administration of\nthe revolving capital fund administrator, in accordance with the\nrequirements of this section, the commissioner and dormitory authority\nand all applicable laws, rules, regulations and other requirements. Upon\nthe effective date of the agreement, custody of, and responsibility for,\nthe revolving capital
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