§ 24-30-1511.5 — State self-insurance funds - transfers - definition

Colorado § 24-30-1511.5

• Jurisdiction: Colorado
• Title 24: Government
• Art.: Department of Personnel -

Text

(1) As
used in this section, state self-insurance fund means the risk management fund
created in section 24-30-1510 (1) excluding the state employee workers'
compensation account; the self-insured property fund created in section 24-30-1510.5; or the state employee workers' compensation account in the risk
management fund created in section 24-30-1510.7.

(2) If there is an insufficient cash balance in a state self-insurance fund for
any allowable expenditure other than the direct and indirect administrative costs of
operating the risk management system, then the executive director may request
the state treasurer to transfer money from another state self-insurance fund's
reserve balance to the fund with the deficiency. The amount of the requested
transfer shall not exceed the amount of the deficiency. The state treasurer shall
transfer the money between the state self-insurance funds as requested. In the
next annual general appropriations act that is enacted after the transfer is made,
the general assembly shall appropriate an amount equal to the transfer to the state
self-insurance fund from which the money was deducted, in addition to any other
amounts appropriated to the fund.

(3) The department of personnel may expend the money transferred in
accordance with subsection (2) of this section for any purpose for which money in
the state self-insurance fund is continuously appropriated but shall not expend any
of the money for the direct and indirect administrative costs of operating the risk
management system.

Legislative History

Source: L. 2017: Entire section added, (SB 17-175), ch. 11, p. 34, � 1, effective March 1.