HB 22-1133 Summary

• Transfers $57 million from the Revenue Loss Restoration Cash Fund to the Family and Medical Leave Insurance Fund as an advance payment of premiums for state employee coverage under Colorado's Paid Family and Medical Leave Insurance program.

• The advance payment is characterized as payment for services rather than a grant, and does not constitute indebtedness or liability of the state.

• The state will receive credit against future premium obligations using an interest rate equivalent to the ten-year U.S. Treasury note rate, calculated annually until premiums paid exceed $57 million plus accrued interest.

• Removes references to "Paid Family and Medical Leave Insurance" from various department appropriations and makes conforming technical amendments to reflect the advance payment structure.

• Includes a safety clause declaring the act necessary for immediate preservation of public peace, health, or safety.