Memorial Hospital Authority. (a) The total amount of credits against unpledged business privilege taxes for medical equipment needs of the GMHA authorized herein shall not exceed Five Million Dollars ($5,000,000) over a five (5)-year period. No more than Five Hundred Thousand Dollars ($500,000) in tax credits shall be authorized for each year of the program. The five-year period will begin in the first fiscal year I Liheslaturan Guåhan allocates One Million Dollars ($1,000,000) from unpledged business privilege taxes through the budget act. This period will continue to count in each subsequent fiscal year as long as this One Million Dollars ($1,000,000) appropriation is maintained in future budget acts. (b) If, at the expiration of the five (5)-year period authorized pursuant to this Article, there are still unclaimed authorized tax credits, then I Liheslaturan Guåhan may, in its discretion, extend the eligible period until such time that all eligible tax credits are exhausted. (c) I Liheslaturan Guåhan may, in its discretion, extend the term and modify any part of the program. (d) Medical equipment purchases shall be competitively procured.
COL 2026-05-05
SOURCE: Added by P.L. 35-138:2 (Jan. 16, 2021), effective on October 1, 2021 pursuant to P.L. 35-138:3. Subsection (a) amended by P.L. 38-060:XII:50 (Sept. 29, 2025).