HaineFloorShot6SPRINGFIELD – A plan returning $8.4 million from the defunct Wood River Township Hospital fund to taxpayers passed the Senate by a 51 to 5 vote.

State Senator Bill Haine (D-Alton) introduced the plan, Senate Bill 496, Tuesday. State Representative Daniel Beiser (D-Alton) will sponsor the bill now that it moves to the House.

“There have been many different proposals for what to do with these funds, but the fairest, most-practical and overwhelmingly supported solution is to give this money back to taxpayers,” Haine said.

Wood River Township Hospital closed in 2000. After 10 years of retiring debt and paying out pension benefits, the fund has approximately $8.4 million left over.

The new plan will permanently dissolve the hospital as a legal entity and give the hospital’s board six months to sell any remaining property, transfer medical records, conduct an audit and pay any outstanding debts.

After the hospital is dissolved, the remaining funds will be transferred to the Madison County Treasurer and disbursed to current property taxpayers by the Madison County Clerk based on the 2005 levy year.

"It is a rare occasion when the government can write a check directly to taxpayers. Dan Beiser and I are pleased to do it,” Haine said.

Category: News Releases

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