HB 18-1429

signed

Workers' Compensation Cash Fund Maximum Reserve Exemption

Plain-English Summary

AI-generated

HB 18-1429 is a Colorado bill that allows the workers' compensation cash fund to keep more money than usual at the end of each fiscal year. Normally, other funds are limited to keeping only up to 16.5% of their spending as extra reserves, but this bill lets the workers' compensation fund hold onto more without those limits. This affects how much money is available in the workers' compensation fund for things like paying claims and handling expenses related to workplace injuries or illnesses. The bill has been signed into law, meaning it's now official policy and the workers' compensation cash fund can operate under these new rules.

Official Summary

Joint Budget Committee. Prior to July 1, 2017, the workers' compensation cash fund was exempt from the maximum reserve for a cash fund, which limits the year-end uncommitted reserves in a cash fund to 16.5% of the amount expended from the cash fund during the fiscal year. The bill once again exempts the workers' compensation cash fund from the maximum reserve.(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.) , Read More

Details

Chamber: House
First action: 2018-06-06
Latest action: 2018-04-25
Last action desc.: Introduced In House - Assigned to Appropriations
OpenStates: View source ↗

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Votes

BILL

2018-05-04 · Senate · pass — Yes: 62 · No: 1 · Other: —

BILL

2018-05-04 · Senate · pass — Yes: 34 · No: 0 · Other: —