- (1) The Rural Hospital Investment Program Board is established within the Office of the State Treasurer to oversee the development and operation of the Rural Hospital Investment Program.
- (2) No later than November 1 of each year, the board shall create an operations manual for identifying rural hospitals and ranking such rural hospitals in order of financial need according to the criteria included in the hospital's five-year plan. Such manual shall include:
- a. All deadlines for submitting required information to the board.
- b. The criteria to be included in the five-year plan submitted pursuant to Section 4(6) of Act 2025-404.
- c. The formula applied to rank the rural hospitals.
- (3) No later than December 1 of each year, the board shall post the following in a prominent location on the Department of Revenue’s website:
- a. The list and ranking order of rural hospitals eligible to receive contributions.
- b. The operations manual created pursuant to Section 5(1) of Act 2025-404.
- c. All pertinent timelines relating to the tax credit, including, but not limited to:
- 1. The beginning date when contributions can be submitted for preapproval by donors for the tax period; and
- 2. The ending date when contributions can be submitted for preapproval by donors for the tax period.
- (4) The board shall annually post the following information in a prominent location on the department's website:
- a. The annual report prepared pursuant to Section 7 of Act 2025-404.
- b. The total preapproved contributions to date by a rural hospital or third party.
- c. The total contributions received to date by each rural hospital.
- d. The total aggregate amount of preapproved contributions made to date.
- e. The aggregate amount of tax credits available.
- f. A list of all preapproved contributions that were made to an unspecified rural hospital and the rural hospital that received such contributions.
- g. The total amount received by each third party that participated in soliciting, administering, or managing donations.
- (5) Annually, the board and the Department of Revenue shall jointly prepare a report that, at a minimum, includes all qualified donations reported by eligible rural hospitals and all tax credits claimed and approved pursuant to this act for the preceding tax year. The report shall be provided to the Legislature by the fifth day of the next regular session.
Author: Glenda Allred
Statutory Authority: ACT 2025-404.
History: New Rule: Published October 31, 2025; effective December 15, 2025.