Colorado Legislative Council Staff
NO FISCAL IMPACT
January 12, 1998
Susan Colling (866-4784)
TITLE: CONCERNING A PROCESS FOR ATTORNEY GENERAL REVIEW OF SIGNIFICANT TRANSACTIONS EFFECTING THE TRANSFER OF ASSETS OR CONTROL OF A HOSPITAL
Summary of Assessment
This bill would require parties to a transaction that would result in the sale, transfer, lease, exchange, or other disposition of 50 percent or more of the assets of a hospital to notify the Attorney General in writing no later than 60 days before the transaction.
The bill would authorize the Attorney General to promulgate a rule that specifies what information would be required in the notice. Further, the bill requires the notice to contain a certification that public notice of the transaction would be given within 7 days after notifying the Attorney General.
The bill would take effect July 1, 1998.
The bill is assessed as having no fiscal impact. The bill applies to the private sector and involves procedural duties associated with the transfer of assets, therefore, there is no fiscal impact to the State.
Department of Law
Legislative Council Staff