0977 Health Facilities Financing Authority
30 - CHILDREN'S HOSPITAL PROGRAM
In 2004, California voters approved Proposition 61, which established the Children's Hospital Program to be administered by CHFFA. Four years later, in 2008, the voters approved a similar proposition (Proposition 3) establishing the second Children's Hospital Program to be administered by CHFFA. The purpose of both programs is to improve the health and welfare of California's critically ill children by providing a stable and ready source of funds for capital improvement projects for children's hospitals.
Children's Hospital Program grant funding is derived from the issuance of general obligation bonds, up to $750 million under Proposition 61 and $980 million under Proposition 3. CHFFA has adopted regulations for each program addressing selection criteria and a process for awarding the grants.
Applications and funding will be available through 2014 for Proposition 61 and through 2018 for Proposition 3, or until program funding is exhausted. In the event funding is not exhausted by the deadlines for each proposition, CHFFA will amend the regulations to extend the respective programs. As of June 30, 2012, CHFFA has disbursed $630.1 million in Proposition 61 funds to twelve hospitals and $275.9 million in Proposition 3 funds to nine hospitals.