MADERA COUNTY, Calif. (KFSN) -- Senate Bill/Assembly Bill 122 has been approved by legislators in Sacramento.
It is now on Governor Gavin Newsom's desk waiting to be signed.
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The bill will create the Distressed Hospital Loan Program, aimed at helping struggling hospitals throughout the state.
Two of the hospitals are in the Central Valley: Kaweah Health and the shuttered Madera Community.
The loan program allocates $150 million for not-for-profit and public hospitals in significant financial distress.
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"It gets us one step closer to being able to have a plan and gives us an incentive to being able to have a partner to help us reopen the hospital," said Assemblymember Esmeralda Soria (D -Merced) about Madera Community.
If a loan is approved for the defunct hospital, it would be only the first in several steps of a complex process to get the doors reopened.
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