HB 11-1249 Summary

• Allows state departments to enter into property purchase agreements before obtaining appraisals, provided agreements are contingent on appraisal support for the purchase price.

• Expands recovery audits to recoup overpayments from all state and federal sources (not just tax dollars), requires ongoing audits every three fiscal years, and creates a recovery audit cash fund.

• Creates state public financing issuance and post-issuance compliance cash fund, requiring new bond issuances to assess fees (up to $100,000 or 5% of principal proceeds) to reimburse state compliance costs.

• Increases dependent age coverage under state employee group benefit plans from 25 to 26 years old to comply with federal healthcare requirements; clarifies definition of dependent to include domestic partners.

• Modifies various administrative functions including: changing annual compensation report deadline to September 15, eliminating computer equipment inventory requirement, converting several appropriations from annual to continuous, and repealing an earlier employee incentive program.