CO SB145

Repeals the Colorado reinsurance program effective January 1, 2022, limiting its operation to one benefit year (2020).

Eliminates the 2021 benefit year from the program and removes provisions allowing the commissioner to establish payment parameters for future years.

Removes the requirement for a two-year federal state innovation waiver, replacing it with a one-year waiver for the 2020 benefit year only.

Requires the state treasurer to refund any unexpended and unencumbered balance in the reinsurance program cash fund by December 15, 2021, to contributing entities and funds in proportion to their contributions.

Eliminates the $40 million general fund transfer scheduled for June 30, 2021, retaining only the $15 million transfer on June 30, 2020, and repeals the premium tax deposit requirement effective January 1, 2022.