§ 23-5-115 — Loans or outstanding obligations offset

(1) (a) At times
prescribed by the department of revenue, but not less frequently than annually, a
state educational institution shall certify to the department of revenue information
regarding persons who owe a loan repayment or other outstanding obligation to the
institution, the amount of which has been determined to be owing as a result of a
final agency determination or judicial decision pursuant to section 39-21-108 (3),
C.R.S., or which has been reduced to judgment.

(b) Such information shall include the name and social security number of
the person owing the debt, the amount of the debt, and any other identifying
information required by the department of revenue.

(2) Upon notification by the department of revenue of amounts deposited
with the state treasurer pursuant to section 39-21-108 (3), C.R.S., the state
treasurer shall disburse such amounts to the appropriate state educational
institution.

Legislative History

Source: L. 83: Entire section added, p. 793, � 2, effective June 3. L. 2002: (1)(a) amended, p. 100, � 3, effective August 7.