Colorado owes taxpayers $34M in refunds it never sent. That means trouble for the state budget – By Brian Eason (Colorado Sun) / May 2, 2024
Lawmakers have just days left in the 2024 legislative session to correct the error, which was uncovered by a state audit
The state government owes Colorado taxpayers an extra $34 million in refunds it should have sent out years ago, legislative budget staff told lawmakers Friday, blowing a hole in the state’s budget with just days left in the 2024 legislative session.
The error was first uncovered by a state audit released in February. State officials had planned to come up with a solution by June, but after conferring with the Colorado Attorney General’s Office, Joint Budget Committee staff members say the matter can’t wait until after the session.
“We really don’t have any choice,” JBC Director Craig Harper told the budget writing committee Friday. “That’s an under-refund from prior years and will need to be refunded at the earliest available opportunity.”
The problem dates back to a 2020 law, Senate Bill 215, which created the Health Insurance Affordability Enterprise and charged a new fee on health insurance premiums. The fee pays for a state reinsurance program and provides subsidies to reduce the cost of health insurance across the state.
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