CO SB254

Repeals the scheduled September 1, 2021 repeal of the nursing home innovations grant board and eliminates specific distribution requirements for the nursing home penalty cash fund.

Replaces the previous $250,000 maximum annual distribution formula with a requirement that the Medical Services Board establish a minimum reserve amount to maintain in the fund for distributions to the department of health care policy and financing.

Prohibits the departments from expending money from the nursing home penalty cash fund for grant purposes if the expenditure would cause the fund balance to fall below the minimum reserve amount established by the Medical Services Board.

Appropriates $250,000 from the nursing home penalty cash fund to the department of health care policy and financing for the 2019-20 fiscal year for general professional services and special projects.

Takes effect August 2, 2019, unless subject to a successful referendum petition, in which case it requires voter approval at the November 2020 general election.