20-3-369. State school health trust operating reserve account -- distribution and uses.
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20-3-369 . State school health trust operating reserve account -- distribution and uses.
(1)There is a state school health trust operating reserve account in the state special revenue fund provided for in 17-2-102 . The purpose of the account is to provide a one-time-only distribution of incentive funding to the first self-funded district health insurance trust that is qualified by the state auditor pursuant to 20-3-366 .
(2)The state school health trust operating reserve account is statutorily appropriated, as provided in 17-7-502 , to the office of public instruction for distribution as provided in this section.
(3)If a trust has been qualified by the state auditor on or before June 30, 2026, for initial operation beginning July 1, 2026, the superintendent shall, on July 1, 2026, or on qualification by the state auditor, distribute $40 million to the district health insurance trust. The qualifying district health insurance trust shall use the funds to stabilize health insurance costs through capitalization of an operating reserve for the district members of the trust.
(4)If a trust has not been qualified by June 30, 2026, the account balance must be transferred to the capital developments long-range building program account for uses consistent with 17-7-209 .