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Colorado faces $67M budget shortfall due to insurance fund error

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Colorado lawmakers are grappling with a $67 million budget shortfall, caused by a mistake by the Health Insurance Affordability Enterprise, which incorrectly treated its revenue as exempt from state limits under the Taxpayer Bill of Rights, CBS News reports. The error means the state owes $67 million more in TABOR refunds than expected. Republican State Sen. Barb Kirkmeyer is proposing a bill to use funds from the Enterprise to cover around half of the refund, while the remaining amount could be sourced from the state reserve or by increasing taxes on health insurance premiums.

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