Hon. Michael G. Oxley: “I'd like to thank Housing Subcommittee Chairman Bob Ney for introducing this important legislation. This bill is a great…”

“I'd like to thank Housing Subcommittee Chairman Bob Ney for introducing this important legislation. This bill is a great example of common sense triumphing over bureaucratic impediments. The Federal Housing Administration has been helping Americans buy homes for nearly 70 years. This backing helps American families struggling with the costs of homeownership to obtain lower interest rates on their mortgages and for many, may be the difference between securing a home loan or not. Today we're here to ensure that these same benefits are available for hospitals across the country. In the 1970s, Congress enacted legislation to provide mortgage insurance to hospitals making capital improvements, provided they submitted an approved certificate of need from their state government. Too many hospitals are unable to take advantage of the significant benefits incurred by FHA insurance because their states no longer provide the certificates of need necessary to qualify for FHA-backed mortgages. This bill responds to the changes in state programs over the past twenty years. By allowing the Department of Housing and Urban Development to craft guidelines for qualifying hospitals without certificate of need programs, this bill will improve healthcare in communities across America. This legislation will build new maternity wards, modernize facilities and put hospitals in communities that do not have reasonable access to these services locally.”