CO SB155

Requires tax-exempt hospitals (excluding critical access hospitals) to submit annual reports to a newly created Hospital Community Benefit Advisory Council detailing tax exemptions received and community benefits provided with their values.

Creates an 11-member Hospital Community Benefit Advisory Council within the Department of Health Care Policy and Financing, with members representing hospitals, public health, providers, businesses, consumers, and vulnerable populations.

Directs the executive director to adopt rules specifying reporting deadlines, formats, and community benefit categories, which may include charity care, community health services, research, and financial contributions while excluding bad debt and Medicare payment shortfalls.

Requires the advisory council to analyze hospital data annually and submit reports to the Senate Health and Human Services Committee and House Health Insurance, Environment, and Public Health Care committees with recommendations regarding tax benefits and accountability measures.

Establishes a sunset date of September 1, 2022, for the advisory council and reporting requirements, with sunset review scheduled for 2021.