(a) The authority may:

(1) Adopt, amend and repeal necessary, appropriate and lawful policy guidelines, and in cooperation with the Secretary, propose rules in accordance with article three, chapter twenty-nine-a of this code;

(2) Hold public hearings, conduct investigations and require the filing of information relating to matters affecting the costs of health care services subject to the provisions of this article and may subpoena witnesses, papers, records, documents and all other data in connection therewith. The board may administer oaths or affirmations in any hearing or investigation;

(3) Exercise, subject to limitations or restrictions herein imposed, all other powers which are reasonably necessary or essential to effect the express objectives and purposes of this article.

(4) Assess a fee on a pro rata basis on hospitals, except critical access hospital, using net patient revenue, as defined under generally accepted accounting principles. The assessment may not exceed a total five one hundredths of one percent of its net patient revenue in a fiscal year. The amount of the assessment shall be determined by the authority based upon the information provided in a hospital’s most recent audited financial statement. The authority shall collect the assessment on a semi-annual basis. Two hundred and fifty thousandths of one percent shall be collected on July 1st. The amount of the second assessment shall be based upon the projected expenses to perform the duties consistent with article twenty-nine-b, chapter sixteen, and article two-d, chapter sixteen, but may not exceed two hundred and fifty thousandths of one percent and shall be collected after the first of January of the next year. The assessment shall be paid into the state treasury and kept as a special revolving fund designated "Health Care Cost Review Fund", with the moneys in the fund being expendable after appropriation by the Legislature for purposes consistent with article twenty-nine-b, chapter sixteen, article two-d, chapter sixteen. The Secretary may use any balance remaining in the “Health Care Cost Review Fund” at the end of June 30, 2017 to support the financial viability of certain critical access hospitals that operate rural health clinics in West Virginia. Any balance remaining in the fund at the end of June 30, 2018 and thereafter shall not revert to the treasury, but shall remain in said fund and such moneys shall be expendable after appropriation by the Legislature in ensuing fiscal years. The assessment shall terminate on July 1, 2020.

(b) The Legislature finds that health care services will be disrupted and important data could be lost which could create significant hardships upon health care providers and the citizens of this state, therefore an emergency exists and the authority shall promulgate emergency rules pursuant to the provisions of section fifteen, article three, chapter twenty-nine of this code, to effectuate the changes in this article by July 1, 2017.