Respicio: New Law Earmarks GRMC Tax Revenues to Cover

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Guam – One of the measures signed into law by Governor Calvo last week requires that the taxes collected on the new GRMC hospital be directed to GMH to help the public hospital pay for medicines and other supplies.

The proposal was introduced in the Legislature by Senator Rory Respicio. It is now Public Law 32-72.

Respicio, in a release, says that the new law “means millions in additional cash resources for our island’s only civilian hospital, and will be done automatically year after year.”

READ the release from Senator Respcio below:

News Release
For Immediate Release

RESPICIO LAW PROVIDES NEW FUNDING FOR THE HOSPITAL

December 3, 2013 — A recently signed public law sponsored by Senator Rory J. Respicio provides a new source of funding for Guam Memorial Hospital (GMH) to buy medicine and other supplies. Public Law 32-72 earmarks all tax revenue collected from the operation of the new private hospital and appropriates those funds annually to the Guam Memorial Hospital. This law is co-sponsored by Senator Tom Ada.

The Respicio bill was signed into law last week. It mandates that the Department of Revenue & Taxation identify the amount of additional tax revenue GovGuam will receive from the new private hospital beginning in 2014, and appropriates this funding annually to GMH for pharmaceuticals and other supplies.

“This means millions in additional cash resources for our island’s only civilian hospital, and will be done automatically year after year,” Senator Respicio said. “Several times last year the hospital was in financial crisis and required the Legislature to act to provide emergency assistance. This new law will provide additional funding on a continuing basis, and will ensure that GMH has the medicines and supplies it needs to provide quality health care for our people,”  stated Senator Tom Ada.