(III) ANY AMOUNTS ALLOCATED TO THE FUND PURSUANT TO SECTION
10-16-1205 (2).
(b)
All money deposited or paid into or TRANSFERRED, ALLOCATED,
OR appropriated to the reinsurance program cash fund, including interest or
income earned on the investment of money in the fund, is continuously
available and appropriated to the division to be expended in accordance
with this part 11. Any interest or income earned on the investment of money
in the fund shall be credited to the fund.
(c)
The reinsurance program cash fund is part of the remsurancc
.
pi g
i
p
c
pursuant
—
to secti
on
COLORADO HEALTH INSURANCE AFFORDABILITY ENTERPRISE ESTABLISHED
PURSUANT TO PART 12 OF THIS ARTICLE 16.
(4) (a) IF, AFTER THE EFFECTIVE DATE OF THIS SUBSECTION (4), THE
UNITED STATES CONGRESS ENACTS AND THE PRESIDENT SIGNS FEDERAL
LEGISLATION ESTABLISHING OR THE SECRETARY OF THE UNITED STATES
DEPARTMENT OF HEALTH AND HUMAN SERVICES IMPLEMENTS A FEDERAL
REINSURANCE PROGRAM THAT PROVIDES FEDERAL FUNDING FOR THE
REINSURANCE PROGRAM OR OTHERWISE MAKES ADDITIONAL FEDERAL FUNDS
AVAILABLE FOR THE REINSURANCE PROGRAM IN EXCESS OF THE AMOUNT
RECEIVED AS FEDERAL PASS-THROUGH FUNDING PURSUANT TO SUBSECTION
(1)(a)(I)
OF THIS SECTION, THE COMMISSIONER SHALL NOTIFY THE HEALTH
INSURANCE AFFORDABILITY BOARD CREATED IN SECTION 10-16-1207 OF THE
AMOUNT OF FEDERAL FUNDING IN EXCESS OF THE FEDERAL PASS-THROUGH
FUNDING THAT WILL BE AVAILABLE FOR THE REINSURANCE PROGRAM AND
THE DATE THE FUNDING IS EXPECTED TO BE RECEIVED.
(b) IF THE REINSURANCE PROGRAM RECEIVES FEDERAL FUNDING AS
DESCRIBED IN THIS SUBSECTION (4) TO MAKE REINSURANCE PAYMENTS TO
CARRIERS IN A GIVEN YEAR AFTER THE HEALTH INSURANCE AFFORDABILITY
ENTERPRISE HAS ALLOCATED MONEY TO THE REINSURANCE PROGRAM
PURSUANT TO SECTION 10-16-1205 (2) FOR THAT YEAR, THE COMMISSIONER
SHALL RETURN TO THE ENTERPRISE THE ALLOCATION OR A PORTION OF THE
ALLOCATION, AS DETERMINED BY THE ENTERPRISE, BASED ON THE AMOUNT
OF FEDERAL FUNDING RECEIVED FOR THAT YEAR.
SECTION 7. In Colorado Revised Statutes, repeal 10-16-1108.
PAGE 21-SENATE BILL 20-215