The Colorado Senate Appropriations Committee in a 5-2 vote Friday approved legislation to restructure the state's hospital provider fee, according to a Pueblo Chieftain report.
Here are four things to know about the measure.
1. Senate Bill 267 aims to help hospitals avoid millions of dollars in state funding cuts, according to the report. Colorado hospitals were slated for a $528 million funding cut as lawmakers worked to balance the state budget.
2. The bipartisan measure helps hospitals avoid the funding cut through the restructuring of the hospital provider fee. Under SB 267, the hospital provider fee would be restructured as an enterprise and wound no longer be subject to the Colorado Taxpayer's Bill of Rights (TABOR) state spending limits, according to the report.
3. SB 267 also includes lowering the Colorado TABOR revenue cap by $200 million, as well as increasing the average Medicaid copays for pharmaceuticals and outpatient services from $1.25 to $2.50, according to the report.
4. A final Senate vote on the measure was slated to take place Monday morning, reports the Pueblo Chieftain. The House would take up the legislation if it passed a final vote in the Senate.