§ 10-16-1206 — Health insurance affordability cash fund - creation - repeal

(1)
There is created in the state treasury the health insurance affordability cash fund.
The fund consists of:

(a) The fees collected from carriers pursuant to section 10-16-1205 (1)(a)(I);

(b) The special assessments collected from hospitals pursuant to section 10-16-1205 (1)(a)(II);

(c) Repealed.

(d) The revenue collected from revenue bonds issued pursuant to section 10-16-1204 (1)(b)(II);

(e) Money that may be allocated to the fund pursuant to section 10-16-1308;

(f) All interest and income derived from the deposit and investment of money
in the fund;

(g) The federal share of the medical assistance payments received pursuant
to section 25.5-4-503 (2);

(h) Gifts, grants, or donations received from private or public sources; and

(i) Any other money that may be appropriated or transferred to the fund.

(1.5) [ Editor's note: Subsection (1.5) is effective (see editor's note following
this section). ]

(a) The fund also consists of one hundred million dollars from the following
sources, which the enterprise shall allocate in accordance with section 10-16-1205
(2)(e):

(I) Up to one hundred million dollars from tax credit sale proceeds credited
to the fund pursuant to section 24-36-406; and

(II) (A) If the total amount of tax credit sale proceeds available for deposit in
the fund is less than one hundred million dollars, an amount determined and
transferred, in accordance with subsection (1.5)(a)(II)(B) of this section, from the
general fund to the fund.

(B) The state treasurer shall determine the amount of the transfer from the
general fund to the fund by calculating the difference between one hundred million
dollars and the amount of tax credit sale proceeds credited to the fund pursuant to
section 24-36-406 and, within ten days after making the determination, shall
transfer that amount from the general fund to the fund.

(b) This subsection (1.5) takes effect on January 1, 2026, only if the condition
specified in section 10-16-1209 (1) occurs.

(2) Money in the fund shall not be transferred to any other fund, except as
provided in section 10-16-1205 (2), and shall not be used for any purpose other than
the purposes specified in this part 12.

(3) All money in the fund is continuously available and appropriated to the
enterprise to use in accordance with this part 12.

(4) The fund is part of the enterprise established pursuant to section 10-16-1204 (1).

(5) (a) On September 1, 2025, the state treasurer shall transfer two hundred
sixty-four thousand two hundred sixty-eight dollars from the general fund to the
fund.

(b) This subsection (5) is repealed, effective July 1, 2026.

Legislative History

Source: L. 2020: Entire part added, (SB 20-215), ch. 201, p. 994, � 1, effective June 30. L. 2021: (1)(d) and (1)(e) amended and (1)(f) added, (HB 21-1232), ch. 241, p. 1293, � 3, effective June 16. L. 2022: (1)(e) and (1)(f) amended and (1)(g) added, (HB 22-1289), ch. 399, p. 2835, � 3, effective June 7. L. 2024: IP(1) and (1)(c) amended, (HB 24-1470), ch. 491, p. 3446, � 1, effective June 7. L. 2025: (1)(f) and (1)(g) amended and (1)(h) added, (HB 25-1309), ch. 233, p. 1105, � 2, effective May 23. L. 2025, 1st Ex. Sess.: (1)(g) and (1)(h) amended and (1)(i) and (5) added, (SB 25B-005), ch. 4, p. 12, � 1, effective August 28; (1)(g) and (1)(h) amended and (1)(i) and (1.5) added, (HB 25B-1006), ch. 10, p. 42, � 3, effective August 28 (see editor's note).