Back in 2015, BVWire reported on what could be a growing trend of cash-strapped municipalities looking to revoke the property tax exemptions of nonprofit hospitals. Now at least one state is getting into the act. Connecticut is proposing to eliminate nonprofit hospitals’ property tax exempt status in its new budget, reports the New Canaan News. If it goes through, it would generate $212 million for state coffers. But, to compensate for the hospitals’ loss in revenue, the state would make available $250 million in Medicaid payments to the healthcare providers. Regardless, hospitals are protesting the planned action.
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