Colorado § 24-36-406 - Distribution of sale proceeds.

§ 24-36-406. Distribution of sale proceeds.

(1) Except as provided in subsection (2) of this section, each month, the state treasurer shall credit the money generated by the sale proceeds pursuant to parts 4 and 5 of this article 36 to the tax credit sale proceeds cash fund. The department shall transfer the money to the general fund less any amounts used for the expenses described in section 24-36-405 (4).

(2) (a) Each month, the state treasurer shall credit the money generated by the sale proceeds pursuant to parts 4 and 5 of this article 36 as follows:

(I) An amount equal to the monthly expenses described in section 24-36-405 (4) to the tax credit sale proceeds cash fund;

(II) The remainder to the health insurance affordability cash fund created in section 10-16-1206 (1); except that the amount credited to the health insurance affordability cash fund shall not exceed one hundred million dollars; and

(III) After the amount specified in subsection (2)(a)(II) of this section has been credited to the health insurance affordability cash fund, then the remainder to the tax credit sale proceeds cash fund.

(b) The department shall transfer the money in the tax credit sale proceeds cash fund, less any amounts used for the expenses described in section 24-36-405 (4), to the general fund.

(c) (I) This subsection (2) will take effect only if, by December 31, 2025, the United States congress does not enact and the president does not sign federal legislation that extends, recreates, or otherwise reinstates the enhanced premium tax credit for the 2026 plan year. The commissioner of insurance shall notify the revisor of statutes in writing if the condition specified in this subsection (2)(c)(I) has occurred by emailing the notice to revisorofstatutes.ga@coleg.gov. If the condition specified in this subsection (2)(c)(I) occurs, this subsection (2) takes effect on January 1, 2026.

(II) This subsection (2) will be repealed if, on or before December 31, 2025, the United States congress enacts and the president signs federal legislation that extends, recreates, or otherwise reinstates the enhanced premium tax credit for the 2026 plan year with at least the same eligibility and in the same amount as authorized by the amendments to the premium tax credit in the federal "American Rescue Plan Act of 2021", Pub.L. 117-2, and the federal "Inflation Reduction Act of 2022", Pub.L. 117-169, 136 Stat. 1818 (2022). The commissioner of insurance shall notify the revisor of statutes in writing if the condition specified in this subsection (2)(c)(II) has occurred and of the date on which the condition occurred by emailing the notice to revisorofstatutes.ga@coleg.gov. This subsection (2) is repealed upon the date identified in the notice that the condition specified in this subsection (2)(c)(II) occurred or, if the notice does not specify that date, upon the date of the notice to the revisor of statutes.

Source: L. 2025, 1st Ex. Sess.: Entire part added, (HB 25B-1004), ch. 8, p. 31, § 1, effective August 28; entire section amended, (HB 25B-1006), ch. 10, p. 49, § 9, effective August 29 (see editor's note).

Editor's note: (1) Section 17(2) of chapter 10 (HB 25B-1006), Session Laws of Colorado 2025, First Extraordinary Session, provides that the act changing this section takes effect only if HB 25B-1004 becomes law and takes effect one day after the effective date of HB 25B-1004. HB 25B-1004 became law and took effect August 28, 2025.

(2) (a) Subsection (2)(c)(I) provides that subsection (2) is effective if, by December 31, 2025, the United States congress does not enact and the president does not sign federal legislation that extends, recreates, or otherwise reinstates the enhanced premium tax credit for the 2026 plan year. The commissioner of insurance notified the revisor of statutes in writing on June 8, 2026, that the condition specified occurred. As a result, subsection (2) became effective on January 1, 2026.

(b) The commissioner of insurance notified the revisor of statutes in writing on June 8, 2026, that the condition specified in subsection (2)(c)(II) did not occur.