Voters in California approved a bond measure that will allot $930 million to the "construction, expansion and remodeling" of children's hospitals, reports Modern Healthcare. Known as Proposition 3, 80 percent of the total amount will go toward eight regional, non-profit hospitals; the rest of the funds will go toward five University of California children's hospitals. The measure will be paid off at a rate of $64 million per year for 30 years.
In 2004, California citizens voted for a similar measure, authorizing the sale of $750 million in general obligation bonds. While $400,000 has been allocated to eligible hospitals so far, some hospitals have requested more funding in order "to meet state seismic-safety requirements and adequately care for chronically and seriously ill children."
For more:
- read the Modern Healthcare article (reg. req.)