California Health and Safety Code

§ 1792.3

HSC § 1792.3 Effective Jan 1, 2001Div. 2 · Ch. 10 · Art. 6

Statute text

(a)Each provider shall include in its liquid reserve a reserve for its long-term debt obligations in an amount equal to the sum of all of the following:

(1)All regular principal and interest payments, as well as credit enhancement premiums, paid by the provider during the immediately preceding fiscal year on account of any fully amortizing long-term debt owed by the provider. If a provider has incurred new long-term debt during the immediately preceding fiscal year, the amount required by this paragraph for that debt is 12 times the provider’s most recent monthly payment on the debt.

(2)Facility rental or leasehold payments, and any related payments such as lease insurance, paid by the provider during the immediately preceding fiscal year.

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Legislative history

Added by Stats. 2000, Ch. 820, Sec. 57.3. Effective January 1, 2001.