Chicago - The Illinois Development Finance Authority is preparing a tax-exempt commercial paper program that will be backed by pooled state Medicaid receivables held by pharmacies.

The program will resemble a commercial paper program undertaken by the Illinois Health Facilities Authority earlier this year. But in that program, the commercial paper was taxable and backed by state Medicaid receivables held by hospitals and nursing homes.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.