California Health Facilities Financing Authority Act.

Assembly Member Schiavo added as a coauthor of the bill.

A duplicate 'SEC. 3.' line was removed from Section 15437, which had appeared twice in the Assembly version due to a drafting error.

Minor grammatical rewording in the definition of 'elderly' under paragraph (9) of the health facility definition: changed from 'Elderly, for the purposes of this paragraph, means' to 'For purposes of this paragraph, elderly means.'

Removed line-number annotations throughout the statutory text, which are used during the amendment process but stripped for the enrolled version.

Added passage dates: Passed the Assembly September 4, 2025 and Passed the Senate September 2, 2025, along with standard enrolled bill formatting (Chief Clerk, Secretary of the Senate, Governor approval block).

Removed amendment history headers (Amended in Senate July 3, 2025; Amended in Assembly April 7, 2025) and the original introduction date of February 13, 2025.

Simplified the legislative counsel's digest by removing 'Vote: majority. Fiscal committee: yes. State-mandated local program: no.' leaving only 'Appropriation: yes.'

Corrected a drafting artifact in paragraph (9) of the health facility definition where 'line 9 of this paragraph, For purposes of this paragraph' was cleaned up to simply 'For purposes of this paragraph.'

Bill was reformatted from enrolled bill layout to chaptered law layout, including new page headers (Ch. 377), removal of legislative process markings (Assembly/Senate passage lines, clerk signatures, Governor receipt line), and addition of the authenticated electronic legal material header.

Chapter number 377 and approval/filing date (October 6, 2025) were added to the document header.

The definition of 'working capital' no longer limits interest to two years. Previously it stated 'interest for not to exceed two years on any loan for working capital'; now it simply says 'interest on any loan for working capital made pursuant to this part.'

Section 15451.5 is repealed, which had required a participating health institution that is a private nonprofit corporation or association to repay and discharge a working capital loan within 24 months of the loan date.

A new subdivision (c) is added to Section 15437 requiring the authority to establish financial eligibility standards for working capital loans by studying the creditworthiness of a participating health institution, along with pledged revenues, debt service coverage, and basic security.

A new prohibition is added stating that a participating health institution determined by the authority to be in financial distress shall not be deemed financially eligible for working capital loans.

The bill's scope of amendment is expanded to include Section 15437 of the Government Code in addition to Section 15432 and the repeal of Section 15451.5.