Bill to assist UofL with acquisition clears House panel

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University of Louisville via its Twitter page

FRANKFORT, Ky. (AP) – Kentucky lawmakers have started advancing a proposed $35 million state loan to help the University of Louisville with its purchase of Jewish Hospital.

The measure cleared the House Appropriations and Revenue Committee with bipartisan support Tuesday. The bill has plenty of political clout behind it.

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Its lead sponsors are Republican House Speaker David Osborne and the top-ranking House Democrat, Representative Joni Jenkins.

The loan amount in the bill sent to the full House is $15 million lower than the original $50 million request.

UofL President Neeli Bendapudi says the lower amount reflects cost savings and increased revenues from the transaction.