Colorado lawmakers Thursday announced Thursday an agreement to avoid massive cuts to the state’s hospitals.
As The Denver Post reports, the measure would reverse a planned $528 million cut to hospitals, while boosting funding to roads and schools.
Lawmakers said the bill has the votes to pass both chambers. The bill included $1.9 billion for transportation but the main aspect of the legislation is reclassification of a hospital provider fee program that helps reimburse hospitals for uncompensated care.
Additional money for rural schools and a tax break for small businesses will come from an increase in the recreational marijuana taxes to 15 percent, making the schools’ money partly contingent on growth in marijuana sales in future years.
The measure would also increase Medicaid co-pays and lower the state’s spending cap by $200 million.
The final version of the state’s $26.8 billion budget headed to Gov. John Hickenlooper’s desk Wednsday after the Senate approved the final version by vote of 33-1.