Essential Health Facilities Investment Act of 1993

TABLE OF CONTENTS:

Title I: Essential Access Community Hospital Program

Title II: Capital Financing Assistance for Safety Net

Providers

Subtitle A: Amendments of Internal Revenue Code of 1986

Subtitle B: Capital Financing Assistance for Safety Net

Providers

Title III: Capital Allocation Plans

Essential Health Facilities Investment Act of 1993 - Title I: Essential Access Community Hospital Program - (Secs. 101 and 102) Amends part A (Hospital Insurance) of title XVIII (Medicare) of the Social Security Act (SSA) to: (1) revise the Essential Access Community Hospital Program (EACH), extending EACH to all States and authorizing increased appropriations for EACH grants; and (2) establish a program of assistance (PA) for activities related to the formation of community health networks by State and local governments.

(Sec. 103) Requires the Secretary of Health and Human Services to study and report to the Congress on the effectiveness of EACH and PA in increasing medically underserved population access to health care.

Title II: Capital Financing Assistance for Safety Net Providers - Subtitle A: Amendments of Internal Revenue Code of 1986 - (Sec. 201) Amends the Internal Revenue Code (IRC) to impose a tax on the hospital gross receipts of any person for the taxable year.

Subtitle B: Capital Financing Assistance for Safety Net Providers - (Sec. 211) Amends SSA to establish a program to provide capital financing assistance in the form of loan guarantees, interest rate subsidies, matching loans, and direct grants to eligible hospitals and facilities with approved applications.

Creates in the Treasury the Capital Financing Trust Fund (Fund) to hold the revenues generated from the taxes above in order to finance expenditures for carrying out such program and the plans described below.

(Sec. 212) Provides for adjustment of Medicare payments to hospitals to take into account any capital financing assistance received by the hospital.

(Sec. 213) Amends IRC to grant tax exempt status to State and local bonds guaranteed by the Fund.

Title III: Capital Allocation Plans - (Sec. 301) Amends SSA title XVIII to mandate that each State establish a plan for Federal approval of capital expenditures for certain non-rural health care services in the State in order to receive Medicare reimbursement for capital-related expenses.