Standard and Poors warned that a proposed Illinois law that would require not-for-profit hospitals to spend a fixed percentage of their operating costs on charity care would probably have a negative impact on hospital credit ratings if the legislation passes. The Tax-Exempt Hospital Responsibility Act is sponsored by Illinois Attorney General Lisa Madigan. The Illinois Hospital Association has argued that the new law could put as many as 24 hospitals in the state out of business.
- see this article from Crain's Chicago Business