Colorado HB1393 modifies the maximum reserve requirement for certain cash funds, exempting them from annual limits.
Colorado HB1393 amends the state's cash fund regulations, specifically exempting the public school construction and inspection cash fund and the health facility services for justice-involved individuals reinvestment cash fund from annual maximum reserve limits. Instead, these funds are subject to a three-year maximum reserve limitation. If the uncommitted reserves of these funds exceed the maximum reserve for three consecutive fiscal years, the entity imposing fees must reduce the fees to bring the reserves within the limit.
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