The Senate Finance Committee voted to advance House Bill 1,006 as amended, a one‑year emergency measure to bolster Colorado’s Health Insurance Affordability Enterprise after federal premium tax credits lapsed. Sponsors said the bill will limit steep premium increases and keep tens of thousands of residents insured.

The amendment adopted in committee replaces proposed use of the Unclaimed Property Trust Fund with authority for the Department of the Treasury to sell up to $100 million in tax credits (insurance premium and/or income tax credits) in a competitive process. The amendment sets a floor so purchasers must pay on average at least 80 cents per dollar of certificate face value, authorizes a third‑party vendor paid from issuance proceeds, and adds a $10 million allocation discussed during testimony for the OmniSalud program.

Why it matters: Committee sponsors and state officials warned that if enhanced federal premium tax credits are not renewed, many Coloradans on Connect for Health Colorado will see sharply higher premiums and some will drop coverage. Insurance Commissioner Michael Conway and testimony from insurers and hospitals emphasized immediate harms: large premium jumps, increases in uncompensated care and financial strain on families and rural hospitals.

Key bill features and committee record
- Funding mechanism as amended: authorize the Colorado Department of the Treasury to sell tax credits (insurance premium tax credits and/or corporate income tax credits to C corporations) to raise up to $100 million for the Health Insurance Affordability Enterprise. The amendment includes a $0.80 minimum sale price (an 80¢ on the dollar floor) and permits competitive sales in tranches to match market demand.
- Uses of funds described by sponsors and witnesses: up to $50 million for the state reinsurance program, up to $50 million for subsidized premium assistance for low‑income marketplace enrollees (premium wrap), and an amended allocation that includes $10 million for OmniSalud. Sponsors had initially described roughly $50M/$50M/$5M (reinsurance / subsidies / OmniSalud) before the amendment.
- Contingency language: the bill contains triggers so that if Congress restores the federal enhanced premium tax credits (and they match current eligibility and amounts by a specified date), the state financing actions would be scaled back or not executed.
- Fiscal note: Legislative Council and Treasury staff said a revised fiscal note was in progress and would be available for the Appropriations Committee if HB 1,006 passes out of Finance. Treasury estimated sales could generate up to $100 million in FY 2025‑26; staff indicated the face value of certificates sold might total ~$125 million and that state scoring will spread the revenue impact across multiple years.

Testimony and evidence cited
- Sponsor remarks: Senator Sandra Judah (sponsor) called the bill “about saving lives,” and outlined county‑level projected net premium increases of well over 100% in many areas if federal credits expire. Co‑prime sponsor Senator Mullica described negotiations that avoided tapping the Unclaimed Property Trust Fund, and said the Treasury would conduct sales and that the amendment incorporated feedback from stakeholders.
- Treasury: Leah Marvin Riley, Policy Director, Department of the Treasury, told the committee the department has experience selling tax‑credit certificates and estimated the sales “will generate up to a $100,000,000 in revenue within this fiscal year.” She said a vendor will be hired and issuance costs would be paid from proceeds.
- Insurance regulator: Insurance Commissioner Michael Conway said current filings and insurer notices project “average net premium increases for financially assisted customers” in many counties of well over 150%, and estimated that the bill could keep roughly 20,000–25,000 people enrolled who otherwise would lose coverage. He warned of large family premium increases and downstream impacts on access to care and uncompensated care for hospitals.
- Hospitals and health advocates: Testimony from Denver Health, the Colorado Hospital Association and children’s and immigrant advocacy groups emphasized the bill’s urgency for vulnerable populations, including undocumented residents enrolled in OmniSalud and families at risk of foregoing care.

Votes at a glance
- Amendment L015 (shift funding to tax‑credit sales, add $10M for OmniSalud, set 80¢ floor, other technical changes): adopted by unanimous voice/consent in committee (no roll call recorded during the amendment adoption).
- Motion to advance HB 1,006 as amended to the Appropriations Committee with a favorable recommendation: passed 6–3. Recorded yea votes in committee: Gonzales; Coker; Mullica; Snyder; Marchman; Madam Chair (name not recorded in transcript). Recorded nay votes: Senator Scribe (as listed in the roll call), Frizzell; Simpson (minority leader). (Committee roll call reproduced from transcript.)

Outstanding questions and next steps
- Revised fiscal note: Legislative Council and Treasury staff said they were preparing an updated fiscal note reflecting the amendment and expected to have it available before Appropriations meets.
- Market mechanics: Treasury said sales will be competitive and done in tranches; the department and OSPB will determine calendar years in which purchased credits may be claimed and will work with a vendor to market and manage sales. The amendment requires consultation with OSPB on claim schedules.
- Policy follow‑up: Sponsors and witnesses said HB 1,006 is a one‑year, emergency measure to buy time. They repeatedly urged a longer‑term discussion during the regular session about sustainable funding and program design for the Health Insurance Affordability Enterprise and OmniSalud.

Ending: The committee’s favorable recommendation sends HB 1,006 as amended to Appropriations with a revised fiscal analysis expected; sponsors and state officials urged prompt action so the state can stabilize premiums and preserve access to care ahead of 2026 plan year rate settings.