It is the intent of the Legislature that the department implement a managed care organization provider tax effective July 1, 2019, to provide ongoing funding for health care and prevention, minimize to the extent possible any need for new reductions to the program, and meet both of the following goals:
(a) Generate an amount of nonfederal funds for the Medi-Cal program equivalent to the funds generated by the tax imposed pursuant to Article 6.7 (commencing with Section 14199.50).
(b) Comply with federal Medicaid requirements applicable to permissible health care related taxes, including, but not limited to, Section 433.68 of Title 42 of the Code of Federal Regulations.
(Repealed and added by Stats. 2019, Ch. 348, Sec. 2. (AB 115) Effective September 27, 2019. Operative on or after July 1, 2019, as prescribed by Section 14199.66. Inoperative on or before January 1, 2023, as prescribed by Section 14199.66. Repealed as of January 1, 2024, pursuant to Section 14199.67.)