* § 5-b. Equipment loans.
1.The agency may make an equipment loan to\na non-profit hospital corporation, a county hospital, a municipal\nhospital, a New York state department of health facility, a state\nuniversity of New York health care facility or a non-profit corporation\nproviding a residential health care facility, upon terms and conditions\nnot inconsistent with article twenty-eight of the public health law and\nthis section. The proceeds of such loan are to be used substantially to\nfinance the acquisition through purchase or lease of equipment including\nconstruction and rehabilitation related to the installation of such\nequipment or the acquisition of intellectual property or other\nintangible property, including information technology and software, that\nis eligible for tax
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* § 5-b. Equipment loans. 1. The agency may make an equipment loan to\na non-profit hospital corporation, a county hospital, a municipal\nhospital, a New York state department of health facility, a state\nuniversity of New York health care facility or a non-profit corporation\nproviding a residential health care facility, upon terms and conditions\nnot inconsistent with article twenty-eight of the public health law and\nthis section. The proceeds of such loan are to be used substantially to\nfinance the acquisition through purchase or lease of equipment including\nconstruction and rehabilitation related to the installation of such\nequipment or the acquisition of intellectual property or other\nintangible property, including information technology and software, that\nis eligible for tax-exempt financing under the United States internal\nrevenue code.\n 2. The agency shall not make an equipment loan unless the agency finds\nthat the non-profit hospital corporation, municipal hospital, county\nhospital, New York state department of health facility, a state\nuniversity of New York health care facility or non-profit corporation\nproviding a residential health care facility, has complied with the\nprovisions of article twenty-eight of the public health law in\nconnection with the proposed equipment loan and that the commissioner\nhas approved the equipment acquisition or lease pursuant to section\ntwenty-eight hundred two of the public health law in any case where the\nacquisition or lease is subject to the provisions of such section, or\nhas approved such acquisition or lease according to guidelines\nprescribed by the commissioner in any other case.\n 3. The agency may make an equipment loan by the purchase, lease or\nsublease of equipment by the agency and the lease or sublease of such\nequipment to a non-profit hospital corporation, a county hospital, a\nmunicipal hospital, a hospital under the jurisdiction of the state\nuniversity of New York health care facility, or a non-profit corporation\nproviding a residential health care facility for the purpose of\nproviding for the acquisition of such equipment and for the construction\nand rehabilitation related to the installation thereof. Notwithstanding\nthe above, the agency shall not make an equipment loan pursuant to this\nsection unless or until the borrower or lessee, vendee, licensee or\nother ultimate beneficiary of such equipment loan has obtained the\napproval of the commissioner pursuant to section twenty-eight hundred\ntwo of the public health law or such other guidelines prescribed by the\ncommissioner in any case where the acquisition or lease is or would\notherwise have been subject to such provisions, had the borrower,\nlessee, vendee, licensee or ultimate beneficiary of such equipment loan\nobtained financing from a source other than the agency.\n * NB There are 2 § 5-b's\n