The House Ways and Means Committee today voted 24 to 16 along party lines to approve the Tax Cuts & Jobs Act (H.R. 1), legislation to reform the tax code. Among other changes, the bill would eliminate hospitals’ ability to access low-cost capital financing through tax-exempt private-activity…
Tax-exempt Status
Rep. Randy Hultgren (R-IL) is renewing a push to have House leadership protect the tax-exempt status of private-activity bonds as part of tax-reform efforts. Earlier this year, a bipartisan group of 150 House members, including Hultgren, who co-chairs the Congressional Municipal Finance Caucus,…
AHA today urged leaders of the House Ways and Means Committee to reject a proposal in the House Republicans’ tax reform package that would eliminate tax exemption for 501(c)(3) hospital bonds and advance refunding bonds.
Ways and Means Chairman Kevin Brady (R-TX) today unveiled House Republican leaders’ proposal to reform the tax code. Among other changes, the Tax Cuts & Jobs Act would eliminate hospitals’ ability to access low-cost capital financing through tax-exempt private activity bonds. In addition, the…
If hospital access to tax-exempt financing is limited or eliminated, hospitals’ ability to make investments in new technologies and renovations in the future will be challenged.
Not-for-profit community hospitals do more than care for the injured and infirm; they promote and protect the health and well-being of their communities. Not-for-profit hospitals are distinguished by certain charitable obligations that have evolved over time as they work to meet the changing health…
As Congress turns to tax reform, a new analysis prepared by Ernst & Young for the AHA finds that hospitals’ and health systems’ community benefit activities outweigh the value of their federal tax exemption by a factor of 11 to one. According to the report, non-profit hospitals in 2013, the…
Contact: Colin Milligan - (202) 638-5491
Jennifer Armstrong Gay - (202) 626-2284
Introduction
Hospitals provide benefits to their communities in a multitude of ways, a portion of which is captured by the IRS Form 990 Schedule H. They not only provide financial assistance and absorb underpayments from means-tested government programs such as Medicaid, but also incur losses due…