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July 2002
 California Health Facility
Construction Loan Insurance Law - California Assembly Bill
2917
Existing law, the California Health
Facility Construction Loan Insurance Law, provides an insurance
program administered by the Office of Statewide Health Planning
and Development for health facility construction, improvement, and
expansion loans made to a political subdivision or nonprofit
corporation, as defined. In order for a loan to be eligible for
insurance under this law, it is required to be secured by a first
mortgage, first deed of trust, or other first priority lien on a
fee interest of the borrower. This bill would expand the security
for these loan purposes to include a leasehold interest of a
specified duration. 
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