AB 627: California Health Facilities Financing Authority Act.

The bill aims to amend existing laws related to health facilities financing in California. It would remove the 2-year cap on interest for working capital loans and extend the repayment period for private nonprofit corporations or associations. The bill also establishes new financial eligibility standards for working capital loans, requiring a review of a participating health institution's creditworthiness, pledged revenues, and debt service coverage. Additionally, the bill prohibits institutions in financial distress from being deemed eligible. The bill makes an appropriation from a continuously appropriated fund to support these changes.