Dedicates certain funding to hospital capital improvement needs.

This bill establishes a dedicated fund called the Public Hospital Capital Fund to collect assessments from health service corporations reorganizing into mutual holding companies (e.g., Horizon Blue Cross Blue Shield of New Jersey). The fund will finance capital improvement projects at public hospitals across New Jersey, with no more than 25% of the initial assessment spent in any single fiscal year. Unspent funds will carry over to future years, and the Legislature will determine how the money is allocated for hospital projects. The bill ensures these funds are exclusively used for hospital infrastructure upgrades, not other purposes.