SPRINGFIELD, Ill. (KSDK) – A vote to return $8.4 million from the defunct Wood River Township Hospital has passed the Illinois Senate 51-5, a spokesperson with the Illinois Senate Democratic Caucus announced Wednesday.
The bill was introduced Tuesday by state Sen. Bill Haine (D-Alton) and will be sponsored by state Rep. Daniel Beiser (D-Alton) as it moves to the House.
In 2000 Wood River Township Hospital closed and has approximately $8.4 million leftover after paying 10 years worth of retiring debt and pension benefits. This plan will dissolve the hospital as a legal entity and allow the hospital board to sell remaining property over the next six months. Medical records will also be transferred, and an audit will be performed to pay any outstanding debts.
Remaining money will be transferred to the Madison County treasurer, and then disbursed to current property taxpayers by the Madison County clerk based on the 2005 levy year.