Budget & Taxes (Government Spending)

If the executive director of the department of health care policy and financing (state department) receives gifts, grants, and donations for the purpose of providing support for the development and funding of an enhanced reimbursement model for nursing facilities that serve residents with behavioral health needs, the state department is required to use the gifts, grants, and donations for that purpose. Receiving gifts, grants, and donations for this purpose does not commit the state to an expenditure of general fund money, and the general assembly shall not reduce any appropriation made to the state department for the same purpose. If requested by the joint budget committee, the state department is required to report the state department's use of the gift, grants, and donations received.(Note: This summary applies to this bill as enacted.)

Under current law, the general fund reserve requirement is equal to 15% of the amount appropriated for expenditure from the general fund for that fiscal year minus:The difference between $100,000,000 and the proceeds of the sale of insurance premium and corporate tax credits that are credited to the health insurance affordability cash fund; andUnless money held in an escrow account in connection with the university of northern Colorado's college of osteopathic medicine is released, an additional $41,250,000.     The act lowers the reserve requirement to 13% for state fiscal years 2025-26 and 2026-27 and then raises it back to 15% for state fiscal years 2027-28 and later.(Note: This summary applies to this bill as enacted.)