CO HB1421

Bill is contingent on passage of House Bill 16-1420, which eliminates the hospital provider fee at the end of fiscal year 2015-16.

Requires legislative council staff to estimate in September 2016 the total general fund revenues the state would have been required to set aside and refund without the elimination of the hospital provider fee.

Allocates estimated revenues in priority order: up to $50 million to highway users tax fund; up to $16.2 million equally to state and local government severance tax trust funds; up to $40 million to reduce the FY 2016-17 public school finance negative factor; and up to $49.5 million to state higher education institutions for tuition reduction and student financial assistance.

Transfers to highway users tax fund and severance tax funds occur on September 30, 2016, while school finance and higher education allocations use any remaining funds.

Statute repeals effective July 1, 2018.