CO SB251

State Treasurer transfers $1,500,000 from the General Fund to the Family and Medical Leave Insurance Fund to cover Division expenses before premium revenue is received.

Transfer is classified as a loan (not a grant) that must be repaid by December 31, 2023, with interest accruing at the rate of the most recently issued 10-year U.S. Treasury note.

Fund money may be used only for revenue bonds, loan repayment, employer reimbursements, program benefits, administration, technology costs, and outreach services—not for general state expenses.

Appropriates $1,500,000 for fiscal year 2021-22 to the Department of Labor and Employment: $1,162,202 for program costs (6.0 FTE), $231,920 for IT services, and $105,878 for legal services.

Subsection (3) authorizing the loan is repealed effective December 1, 2024.