HB 24-1405

House Bill 24-1405 in Colorado adjusts funding for the University of Colorado's fee-for-service contracts by reducing its appropriation with Medicaid reimbursements until July 1, 2026. As these Medicaid payments decrease over time, the state will increase general fund appropriations to the university. The bill also reduces need-based grants from the Department of Higher Education by $2,273,392 for the fiscal year starting in 2024. This bill has been signed into law and is now effective as of April 18, 2024.

Official Summary

Under existing law, the appropriation to the university of Colorado for fee-for-service contracts for health services is reduced by a certain amount of additional medicaid reimbursements and payments received by the state pursuant to the federal"Families First Coronavirus Response Act" (additional medicaid payments) through December 31, 2024. The act continues this provision until July 1, 2026. As additional medicaid payments are phased out, the general fund appropriation to the university of Colorado for fee-for-service contracts is increased. The act exempts the increased general fund appropriations in the 2024-25 and 2025-26 state fiscal years made as a result of the phased out additional medicaid payments from the required annual increase in student financial assistance. The act reduces the appropriation to the department of higher education for the 2024-25 state fiscal year for need-based grants by $2,273,392. APPROVED by Governor April 18, 2024 EFFECTIVE April 18, 2024(Note: This summary applies to this bill as enacted.)

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