Modify start-up funding for the state health benefit exchange
Biennium
2020-2022
Budget Round
Initial Bill
Half Sheet Number
487 #2c
Description
This amendment modifies language in the introduced budget to allow the Secretary of Finance to authorize either a working capital advance or an interest-free treasury loan in an amount not to exceed $40,000,000 for the State Corporation Commission to fund start-up costs and other costs associated with the implementation of a State Health Benefit Exchange. The Secretary of Finance may extend the repayment plan for any such working capital advance or interest-free treasury loan for a period longer than twelve months. The State Corporation Commission is allowed to use a portion of the user fees collected from health insurance carriers participating in the State Health Benefit Exchange to repay the working capital advance or interest-free treasury loan. In addition, the amendment reduces the nongeneral fund appropriation to reflect updated estimates of the cost to operate the Exchange.