Bill > SB178

This bill aims to enhance health insurance affordability in Colorado by defining "BOND" as any debt instrument issued by the health insurance affordability enterprise and "BOND OBLIGATIONS" as the costs associated with these bonds, including principal, interest, and related fees. The enterprise is granted expanded powers, including the ability to invest money in its fund without certain statutory limitations and to contract with private professional fund managers. The bill also outlines specific allocations for revenues collected by the enterprise starting in 2027, prioritizing subsidies for state-subsidized individual health coverage plans, contributions to a reinsurance program, and efforts to reduce costs for individuals purchasing plans on the exchange. Furthermore, it authorizes the enterprise to issue up to $100 million in revenue bonds to fund its programs, with provisions for investment and tax exemption, and mandates a study on optimizing affordability programs, including the feasibility of a Basic Health Program. The bill also establishes a tax credit for insurance companies contributing to the enterprise, capped at $9 million annually, and modifies existing tax credits for contributions to the health insurance exchange, extending the higher credit limit through August 31, 2027, before it reverts to a lower amount and is ultimately repealed at the end of 2027. Finally, it directs a $40 million transfer from the Marijuana Tax Cash Fund to the Health Insurance Affordability Cash Fund by June 30, 2026.