A Bill for an Act
Page 1, Line 101Concerning a transfer of money from the refinance
Page 1, Line 102discretionary account created in the ARPA refinance
Page 1, Line 103state money cash fund to the health insurance
Page 1, Line 104affordability cash fund.
Bill Summary
(Note: This summary applies to this bill as introduced and does not reflect any amendments that may be subsequently adopted. If this bill passes third reading in the house of introduction, a bill summary that applies to the reengrossed version of this bill will be available at http://leg.colorado.gov.)
The refinance discretionary account (account) created in the ARPA refinance state money cash fund consists of state money credited to the account when, during the 2024 legislative session, the general assembly exchanged money that the state received pursuant to the "American Rescue Plan Act of 2021" (ARPA) with state money. The governor has discretion to designate any department as a recipient of money from the account to be used for any allowable purpose under ARPA.
The bill requires the state treasurer to transfer, within 3 days of the effective date of the bill, the unexpended and unencumbered balance of money in the account that did not originate from the money the state received from the coronavirus state fiscal recovery fund from the account to the health insurance affordability cash fund.
Page 2, Line 1Be it enacted by the General Assembly of the State of Colorado:
Page 2, Line 2SECTION 1. In Colorado Revised Statutes, 24-75-226.5, add (2)(c)(III) as follows:
Page 2, Line 324-75-226.5. ARPA refinance state money cash fund - creation
Page 2, Line 4- reduction in general fund appropriations - legislative intent -
Page 2, Line 5definitions - repeal. (2) (c) (III) Within three days of the effective
Page 2, Line 6date of this subsection (2)(c)(III), the state treasurer shall
Page 2, Line 7transfer from the refinance discretionary account to the
Page 2, Line 8health insurance affordability cash fund created in section
Page 2, Line 910-16-1206 (1), the unexpended and unencumbered balance of
Page 2, Line 10money in the account that did not originate from the money the state received from the coronavirus state fiscal recovery fund.
Page 2, Line 11SECTION 2. In Colorado Revised Statutes, 10-16-1206, amend (1)(g) and (1)(h); and add (1)(i) as follows:
Page 2, Line 1210-16-1206. Health insurance affordability cash fund -
Page 2, Line 13creation. (1) There is created in the state treasury the health insurance affordability cash fund. The fund consists of:
Page 2, Line 14(g) The federal share of the medical assistance payments received pursuant to section 25.5-4-503 (2);
andPage 2, Line 15(h) Gifts, grants, or donations received from private or public sources; and
Page 3, Line 1(i) Any other money that may be appropriated or transferred to the fund.
Page 3, Line 2SECTION 3. Safety clause. The general assembly finds,
Page 3, Line 3determines, and declares that this act is necessary for the immediate
Page 3, Line 4preservation of the public peace, health, or safety or for appropriations for
Page 3, Line 5the support and maintenance of the departments of the state and state institutions.