Colorado Legislative Council Staff
NO FISCAL IMPACT
April 12, 1999
Will Meyer (303-866-4976)
TITLE: CONCERNING THE REPEAL OF SECTION 10-16-324 (4) (E) (I) (H), COLORADO REVISED STATUTES, RELATING TO THE OWNERSHIP LIMITATION FOR CONVERTED NONPROFIT HOSPITAL, MEDICAL-SURGICAL, AND HEALTH SERVICE CORPORATIONS.
Summary of Assessment
This bill repeals Section 10-16-324 (4) (E) (I) (H), C.R.S., relating to the ownership limitation for converted nonprofit hospital, medical-surgical, and health service corporations. This bill eliminates a prohibition on ownership of the company after conversion to a for-profit entity. The bill would become effective upon signature of the Governor.
The bill will not affect the workload of the Division of Insurance, Department of Regulatory Agencies or any other state agency or unit of local government. Therefore, this bill is assessed as having no fiscal impact.