SECTION 1: Chapter 40J of the General Laws, as so appearing, is hereby amended by inserting after section 6G the following two sections:
(6H) There shall be established and set up on the books of the corporation the Massachusetts E-Health Innovation Revolving Loan Fund, hereinafter referred to as the fund, for the sole purpose of supporting a healthcare provider, as defined in section 1 of chapter 111, to comply with state and federal requirements for the adoption of health information technology in the commonwealth, including, but not limited to, the full deployment of electronic health records. There shall be credited to the fund any appropriations, proceeds of any bonds or notes of the commonwealth issued for the purpose, or other monies authorized by the general court and designated thereto; any federal grants or loans; any private gifts, grants or donations made available; and any income derived from the investment of amounts credited to the fund. The director of the institute shall seek, to the greatest extent possible, private gifts, grants and donations to the fund. The corporation shall hold the fund in an account or accounts separate from other funds. The fund shall be administered by the executive director without further appropriation; provided, however, that any disbursement or expenditure from the fund for loans to healthcare providers, as provided in section 6I, shall be approved by the health information technology council established under said section 6D. Amounts credited to the fund shall be available for reasonable expenditure by the corporation, subject to the approval of the health information technology council where such approval is required under this chapter, for such purposes as the corporation determines are necessary to support the dissemination and development of health information technology in the commonwealth, including, but not limited to, the loan program established in said section 6I.
(6I) The Massachusetts e-Health Institute shall make no-interest loans from the E-Health Innovation Revolving Loan Fund to healthcare providers, as defined in section 1 of chapter 111, to assist with, but not limited to, the development and implementation of an interoperable health information technology system that meets federal and/or state requirements. The director of the institute shall determine the size and number of loans made, and may prescribe forms or establish an application process and may impose a reasonable nonrefundable application fee to cover the cost of administering the loan program. Any application fees imposed and collected under this clause are to be reinvested in the E-Health Innovation Revolving Loan Fund for the duration of the loan program. To be eligible for a loan under this section, a healthcare provider, at a minimum, must provide the institute with the following information: (1) the amount of the loan requested and a description of the purpose or project for which the loan proceeds will be used; (2) a quote from a vendor; (3) a description of the health care provider/entities and other groups participating in the project; (4) evidence of financial stability and a demonstrated ability to repay the loan; and (5) a description of how the system to be financed shall bring the healthcare provider into compliance with federal and/or state requirements.
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