(1)(a) The provider
stabilization fund is created in the state treasury. The provider stabilization fund
consists of:
(I)Money credited to the fund as a loan from the unclaimed property trust
fund pursuant to section 38-13-801 (6);
(II)Any other money the general assembly may appropriate, transfer, or
credit to the fund; and
(III)Any gifts, grants, or donations the state department may receive from
public or private sources for the fund.
(b)(I) (A) Money credited to the fund pursuant to section 38-13-801 (6) is an
interest-free loan from the unclaimed property trust fund to the fund. The state
department may accept and expend the money so credited and shall repay the loan
received pursuant to section 38-13-801 (6) no later than January 1, 2045.
(B)If, in any state fiscal
Free access — add to your briefcase to read the full text and ask questions with AI
(1) (a) The provider
stabilization fund is created in the state treasury. The provider stabilization fund
consists of:
(I) Money credited to the fund as a loan from the unclaimed property trust
fund pursuant to section 38-13-801 (6);
(II) Any other money the general assembly may appropriate, transfer, or
credit to the fund; and
(III) Any gifts, grants, or donations the state department may receive from
public or private sources for the fund.
(b) (I) (A) Money credited to the fund pursuant to section 38-13-801 (6) is an
interest-free loan from the unclaimed property trust fund to the fund. The state
department may accept and expend the money so credited and shall repay the loan
received pursuant to section 38-13-801 (6) no later than January 1, 2045.
(B) If, in any state fiscal year that begins on or after July 1, 2026, state
revenues from sources not excluded from state fiscal year spending, as defined in
section 24-77-102 (17), do not exceed the limit on state fiscal year spending
calculated pursuant to section 24-77-103, the state department shall present to the
joint budget committee a proposal to repay all or a portion of the loan earlier than
the loan repayment deadline specified in subsection (1)(b)(I)(A) of this section.
(C) To the extent possible and for purposes of repaying the loan from the
unclaimed property trust fund, the general assembly shall prioritize making annual
transfers from the general fund to the unclaimed property trust fund beginning in
the 2030-31 state fiscal year, or sooner, if funds are available.
(II) A loan made from the unclaimed property trust fund to a separate fund
associated with a state department:
(A) Is an interfund loan according to governmental accounting standards
board codification 1800.102, meaning that the loan is not classified as revenue and
is booked as an interfund receivable or payable; and
(B) Is not state fiscal year spending, as defined in section 24-77-102 (17), or
state revenues, as defined in section 24-77-103.6 (6)(c), and does not count against
either the state fiscal year spending limit imposed by section 20 of article X of the
state constitution or the excess state revenues cap, as defined in section 24-77-103.6 (6)(b)(I)(G).
(III) Loan liabilities that are recorded in the fund but that are not required to
be paid in the current fiscal year shall not be considered when calculating sufficient
statutory fund balance for purposes of section 24-75-109.
(2) The state treasurer shall credit all interest and income derived from the
deposit and investment of money in the provider stabilization fund to the general
fund. The state treasurer shall invest, as provided by law, any money in the fund not
expended for the purposes specified in section 25.5-3-604. Money in the fund,
other than interest, shall not be transferred to any other fund and shall not be used
for any purpose other than the purposes specified in section 25.5-3-604.
(3) Subject to annual appropriation by the general assembly, the state
department shall expend the money in the fund and any federal matching money, in
accordance with section 25.5-3-604 (1), to distribute provider stabilization
payments to safety net providers determined eligible for payments in accordance
with section 25.5-3-604 (2).
(4) The state department, in collaboration with the provider stabilization fund
advisory board, may seek, accept, and expend gifts, grants, or donations from
private or public sources for the purposes of section 25.5-3-604. The state
department shall transmit all money received through gifts, grants, or donations to
the state treasurer, who shall credit the money to the provider stabilization fund.
(5) The state department, in consultation with the provider stabilization fund
advisory board, shall leverage money in the fund to obtain federal matching money,
working with or through the state board to the extent required by federal law or
otherwise necessary.