H.R. 7030: Securing Facilities for Mental Health Services Act

This bill, titled the Securing Facilities for Mental Health Services Act, proposes changes to the National Housing Act, specifically focusing on mortgage insurance for hospitals. Here are the main points of the bill:

Mortgage Insurance for Hospitals

Currently, the National Housing Act provides a program for mortgage insurance that supports hospitals. This bill aims to simplify access to this program by making adjustments to the existing provisions:

• The bill modifies subsection (b)(1) of Section 242 of the National Housing Act. It replaces some language to streamline the eligibility criteria.
• The specific changes include removing an existing subparagraph that may limit access to mortgage insurance for some licensed hospitals, creating a more uniform access across various hospital types.

Implementation Timeline

The changes proposed in the bill would take effect nine months after the bill is enacted. This gives the relevant authorities time to adjust the program accordingly.

Reporting Requirements

Additionally, the bill requires the Secretary of Housing and Urban Development to prepare a report within two years of the bill's enactment. This report should evaluate the outcomes and effectiveness of the expanded hospital mortgage insurance program established by the amendments.

Overall Purpose

The overall goal of the bill is to enhance access to mortgage insurance for licensed hospitals, which may help improve the financial stability and capabilities of these healthcare facilities, particularly those providing mental health services.

Relevant Companies

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