Bill Text: HI SB630 | 2012 | Regular Session | Introduced

Hawaii Senate Bill 630 (Prior Session Legislation)

Introduced

Bill Title: Hawaii Health Systems Corporation; Nonprofit Entity

Spectrum: Moderate Partisan Bill (Democrat 4-1)

Status: (Introduced - Dead) 2011-12-01 - Carried over to 2012 Regular Session. [SB630 Detail]

Download: Hawaii-2012-SB630-Introduced.html

THE SENATE	S.B. NO.	630
TWENTY-SIXTH LEGISLATURE, 2011
STATE OF HAWAII

A BILL FOR AN ACT

RELATING TO the HAWAII HEALTH SYSTEMS CORPORATION.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

SECTION 1. (a) No later than January 1, 2012, the board of directors of the Hawaii health systems corporation shall develop an action plan for converting the Hawaii health systems corporation into a private nonprofit tax-exempt organization by July 1, 2012.

(b) The action plan shall include but not be limited to the following information and analyses:

(1) Legal and tax requirements of converting to a tax-exempt nonprofit organization;

(2) Identification of effective corporate governance and management structure;

(3) Identification of a robust financial structure and long-term performance plan;

(4) Estimated conversion and re-capitalization costs and strategies for financing;

(5) Development of a detailed business plan, including pro forma financials and cash flow;

(6) Provisions for employee salaries and benefits, including retirement plans, health insurance, and paid time off;

(7) Identification and evaluation of operational efficiencies; and

(8) Identification of efficiencies of scale and associated savings.

(c) The board of directors of the Hawaii health systems corporation shall submit a report on an action plan to convert Hawaii health systems corporation into a private, non-profit corporation, including any necessary legislation, to the legislature no later than twenty days prior to the convening of the regular session of 2012.

SECTION 2. This Act shall take effect upon its approval.

INTRODUCED BY:	_____________________________

Report Title:

Hawaii Health Systems Corporation; Nonprofit Entity

Description:

Directs the board of directors of HHSC to develop an action plan for converting to a tax-exempt nonprofit entity by 07/01/12.

The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.