Health Facilities Assistance Act

Health Facilities Assistance Act - Authorizes the Secretary of Health, Education, and Welfare to make grants to any public or private nonprofit entity to assist such entity in meeting up to 75 percent of the costs of any project for the (1) construction or modernization of a public or other nonprofit outpatient facilitiy or (2) modernization of a public or other nonprofit health facility which will serve a medically underserved population.

Authorizes the Secretary to make loans and loan guarantees to assist public and other nonprofit entities in meeting the costs of projects for the above purposes. Directs the Secretary to establish a facilities account for each State and to credit, each fiscal year, to each such account an allotment from the sums appropriated for such year on the basis of the population, the financial need, and the extent of the need for construction and modernization of the facilities of the respective states.

Stipulates that no grant, loan, or loan guarantee for any project may be made under this Act unless an application therefor has been submitted to the Secretary and approved by him. States that such application shall be in such form, submitted in such manner, and contain such information, as the Secretary shall by regulation prescribe.

Sets forth general and technical provisions relating to the granting of loans and loan guarantees.

Establishes in the Treasury a loan guarantee and loan fund which shall be available to the Secretary without fiscal year limitation, in such amounts as may be specified from time to time in appropriations Acts: (1) to enable him to make loans under this Act; (2) to enable him to discharge his responsibilities under guarantees issued by him under this Act; (3) for payment of interest on the loans which are guaranteed under this Act; and (4) for repurchase by him of direct loans made under this Act which have been sold and guaranteed. Authorizes to be appropriated to the fund from time to time such amounts as may be necessary to provide capital required for the fund.

Directs the Secretary to prescribe by regulation: (1) criteria for determining needs for health facilities for which assistance is available under this Act; (2) criteria for determining the extent to which existing facilities, for which assistance is available under this Act; are in need of modernization; (3) the general manner in which each local health planning agency shall determine the priority of projects within the area under its jurisdiction based upon the relative need of various populations and in various sub-areas within such area lacking adequate facilities of the several types for which assistance is available under this Act; (4) general standards of construction and equipment for facilities of various classes and in various types of locations, for which assistance is available under this Act; and (5) the means by which each entity which receives or has received financial assistance under this Act shall be required to demonstrate compliance with the assurances required to be made at the time such assistance was received.

Authorizes appropriations of $210,000,000 for the fiscal year ending June 30, 1975, and for each of the succeeding two fiscal years.

Authorizes such sums as may be necessary for the fiscal year ending June 30, 1975, and for each of the two succeeding fiscal years for direct loans and guarantee loans under the provisions of this Act.