Section 25.5-2-101 - Old age pension health and medical care fund - supplemental old age pension health and medical care fund - cash system of accounting - legislative declaration - rules(1) (Deleted by amendment, L. 2011, (SB 11-210), ch. 719, p. 719, § 2, effective July 15, 2012.)(2) Any money remaining in the state old age pension fund after full payment of basic minimum awards to qualified old age pension members, and after establishment and maintenance of the old age pension stabilization fund in the amount of five million dollars, must be transferred to a fund to be known as the old age pension health and medical care fund, which is created. The state board shall establish and promulgate rules for administration of a program to provide health and medical care to persons who qualify to receive old age pensions and who are not patients in an institution for tuberculosis or behavioral or mental health disorders. The costs of such program, not to exceed ten million dollars in any fiscal year, are defrayed from the health and medical care fund, but all money available, accrued or accruing, received or receivable, in the health and medical care fund in excess of ten million dollars in any fiscal year is transferred to the general fund of the state to be used pursuant to law. Money in the old age pension health and medical care fund is subject to annual appropriation by the general assembly.(4) The state department shall utilize the cash system of accounting, as enunciated by the governmental accounting standards board, regardless of the source of revenues involved, for all activities of the state department relating to the financial administration of any nonadministrative expenditure for the health and medical care programs described in subsection (2) of this section.Amended by 2024 Ch. 152,§ 15, eff. 8/7/2024.Amended by 2017 Ch. 263, § 197, eff. 5/25/2017.L. 2006: Entire article amended with relocations, p. 1800, § 5, effective July 1. L. 2007: (4) added, p. 465, § 1, effective July 1. L. 2009: (3) amended, (SB 09 -261), ch. 201, p. 905, § 1, effective May 1. L. 2010: (3)(b)(III) amended and (3)(b)(IV) and (3)(b)(V) added, (HB 10 -1380), ch. 215, p. 932, § 1, effective May 6. L. 2011: (3)(b)(VI) added, (SB 11 -164), ch. 33, p. 93, § 5, effective March 18; (3) amended, (SB 11 -210), ch. 187, p. 718, § 1, effective July 1; (1) and (4) amended, (SB 11 -210), ch. 187, p. 719, § 2, effective 7/15/2012. L. 2017: (2) amended, (SB 17-242), ch. 263, p. 1326, § 197, effective May 25.(1) This section is similar to former § 26-2-117 as it existed prior to 2006.
(2) Amendments to subsection (3) by Senate Bill 11-210 and Senate Bill 11-164 were harmonized.
(3) Subsection (3)(a)(II) provided for the repeal of subsection (3)(a), effective July 15, 2012. (See L. 2011, p. 718.) Subsection (3)(b)(V) provided for the repeal of subsection (3)(b), effective July 15, 2012. (See L. 2011, p. 718.)
2024 Ch. 152, was passed without a safety clause. See Colo. Const. art. V, § 1(3). For the legislative declaration in SB 17-242, see section 1 of chapter 263, Session Laws of Colorado 2017.