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Second Regular Session
Seventy-fifth General Assembly
STATE OF COLORADO
INTRODUCED
LLS NO. 26-0015.01 Josh Schultz x5486 SENATE BILL 26-041
Senate Committees House Committees
Health & Human Services
A BILL FOR AN ACT
CONCERNING CONSUMER PROTECTIONS IN TRANSACTIONS INVOLVING101
MEDICAL CARE ENTITIES.102
Bill Summary
(Note: This summary applies to this bill as introduced and does
not reflect any amendments that may be subsequently adopted. If this bill
passes third reading in the house of introduction, a bill summary that
applies to the reengrossed version of this bill will be available at
http://leg.colorado.gov.)
Section 1 of the bill amends and relocates the current requirements
for notification to the attorney general regarding certain mergers,
acquisitions, or transfers of securities or assets. Current law prohibits the
attorney general from charging a party to a merger a fee connected with
filing of the merger or a fee for providing additional information
regarding the merger. The bill allows the attorney general to charge each
SENATE SPONSORSHIP
Kipp and Weissman,
HOUSE SPONSORSHIP
Brown and McCormick,
Shading denotes HOUSE amendment. Double underlining denotes SENATE amendment.
Capital letters or bold & italic numbers indicate new material to be added to existing law.
Dashes through the words or numbers indicate deletions from existing law.
filing party a reasonable fee, not to exceed $5,000.
Section 1 also requires that the parties to a merger, acquisition, or
contracting affiliation of one or more health-care entities (material change
transaction) comply with specified notice requirements at least 60 days
before the closing of the material change transaction. If the material
change transaction requires the filing of a premerger notification with the
federal trade commission or the United States department of justice
pursuant to the federal "Hart-Scott-Rodino Antitrust Improvements Act
of 1976", the parties shall also submit notice to the attorney general. If the
terms of the material change transaction are altered following the
submission of the written notice to the attorney general, the parties must
provide notice to the attorney general of the alteration.
The attorney general may deem information and materials
provided in compliance with the notice requirements as public records
subject to disclosure under the "Colorado Open Records Act".
Section 1 also prohibits a material change transaction if the
material change transaction may substantially lessen competition or tend
to create a monopoly or may harm consumer welfare. A party to a
material change transaction shall not close the material change transaction
until specified conditions are met.
Sections 3 through 9 amend the current requirements for
transactions that involve licensed hospitals and are subject to notice
requirements to the attorney general (covered transactions) by:
! Including in the definition of a "covered transaction" a
transaction that would result in the sale, transfer, lease,
exchange, or other disposition of the management, control,
or operations of a hospital;
! Requiring parties to a covered transaction to include, in the
notice to the attorney general of the transaction, a statement
describing the charitable missions of each nonprofit entity
entering into the covered transaction and the services
provided by each nonprofit entity in furtherance of the
nonprofit entity's charitable purposes and charitable
missions;
! Specifying that if a covered transaction will not result in a
material change in the charitable purposes, charitable
missions, or services provided in furtherance of the
charitable purposes or missions of a nonprofit entity
entering into the covered transaction, and will not result in
a termination of the attorney general's jurisdiction over the
charitable assets due to a transfer of a material amount of
those assets outside of the state of Colorado, the parties
may proceed with the covered transaction without
additional review by the attorney general. The attorney
general may perform specified actions to review, and use
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specified criteria to determine, whether the covered
transaction will result in a material change.
! Authorizing the attorney general to exercise their common
law authority to assess and review or challenge a covered
transaction that will result in a material change in the
charitable purposes, charitable missions, or services
provided in furtherance of the charitable purposes or
missions of a nonprofit entity entering into the covered
transaction or will result in a termination of the attorney
general's jurisdiction over the charitable assets due to a
transfer of a material amount of those assets outside of the
state of Colorado;
! Adding specified information to the notice requirements for
covered transactions in which the parties involved in the
transaction are all for-profit entities; and
! Creating notice requirements for and attorney general
review of covered transactions involving a for-profit
hospital and a nonprofit entity.
Section 10 requires that, if certain health-care providers refer a
patient to an entity for health-care services and the provider, or an
immediate family member of the provider, has a financial relationship
with the entity, the provider shall disclose the nature of the financial
relationship to the patient at the time of the referral. The attorney general
is required to study the effect of these provisions and the impact the
provisions have on consumer knowledge and costs and submit a report on
the findings of the study.
Sections 11 through 30 make conforming amendments.
Be it enacted by the General Assembly of the State of Colorado:1
SECTION 1. In Colorado Revised Statutes, add part 3 to article2
4 of title 6; and add with amended and relocated provisions part 2 to3
article 4 of title 6 as follows:4
PART 25
UNIFORM ANTITRUST PRE-MERGER6
NOTIFICATION ACT7
6-4-201. [Formerly 6-4.5-101] Short title.8
This article 4.5 PART 2 may be cited as the "Uniform Antitrust9
Pre-Merger Notification Act".10
SB26-041-3-
6-4-202. [Formerly 6-4.5-102] Definitions.1
In this article 4.5 AS USED IN THIS PART 2:2
(1) "Additional documentary material" means the additional3
documentary material filed with a Hart-Scott-Rodino form.4
(2) "Electronic" means relating to technology having electrical,5
digital, magnetic, wireless, optical, electromagnetic, or similar6
capabilities.7
(3) "Filing threshold" means the minimum size of a transaction8
that requires the transaction to be reported under the Hart-Scott-Rodino9
Act in effect when a person files a pre-merger notification.10
(4) "Hart-Scott-Rodino Act" means section 201 of the FEDERAL11
"Hart-Scott-Rodino Antitrust Improvements Act of 1976", 15 U.S.C. sec.12
18 (a) 18a.13
(5) "Hart-Scott-Rodino form" means the form filed with a14
pre-merger notification, excluding additional documentary material.15
(6) "Person" means an individual; estate; business or nonprofit16
entity; government or governmental subdivision, agency, or17
instrumentality; or other legal entity.18
(7) "Pre-merger notification" means a notification filed under the19
Hart-Scott-Rodino Act with the federal trade commission or the United20
States department of justice antitrust division, or a successor agency.21
(8) "State" means a state of the United States, the District of22
Columbia, Puerto Rico, the United States Virgin Islands, or any other23
territory or possession subject to the jurisdiction of the United States.24
6-4-203. [Formerly 6-4.5-103] Filing requirement - rules.25
(a) A person filing a pre-merger notification shall file26
contemporaneously a complete electronic copy of the Hart-Scott-Rodino27
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form with the attorney general if EITHER PARTY TO THE MERGER:1
(1) The person Has its principal place of business in this state; or2
(2) The person or a person it controls Directly or indirectly had3
annual net sales in this state of the goods or services involved in the4
transaction of at least twenty percent of the filing threshold.5
(b) A person that files a form under subsection (2)(a) (a) of this6
section shall include with the filing a complete electronic copy of the7
additional documentary material.8
(c) On request of the attorney general, a person that filed a form9
under subsection (2)(a) of this section shall provide a complete electronic10
copy of the additional documentary material to the attorney general not11
later than seven days after receipt of the request.12
(d) (1) The attorney general may not charge a REASONABLE fee13
connected with filing or providing the form or additional documentary14
material under this section.15
(2) THE ATTORNEY GENERAL SHALL ADOPT RULES GOVERNING THE16
FEE DESCRIBED IN SUBSECTION (d)(1) OF THIS SECTION. THE FEE MUST NOT17
EXCEED FIVE THOUSAND DOLLARS FOR EACH FILING PARTY.18
6-4-204. [Formerly 6-4.5-104] Confidentiality.19
(a) Except as provided in subsection (c) of this section or section20
6-4.5-105 6-4-205, the attorney general may not make public or disclose:21
(1) A Hart-Scott-Rodino form filed under section 6-4.5-10322
6-4-203;23
(2) The additional documentary material filed or provided under24
section 6-4.5-103 6-4-203;25
(3) A Hart-Scott-Rodino form or additional documentary material26
provided by the attorney general of another state;27
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(4) That the form or the additional documentary material were1
WAS filed or provided under section 6-4.5-103 6-4-203 or provided by the2
attorney general of another state; or3
(5) The merger proposed in the form.4
(b) A form, additional documentary material, and other5
information listed in subsection (a) of this section are exempt from6
disclosure under the "Colorado Open Records Act", part 2 of article 727
of title 24.8
(c) Subject to a protective order entered by an agency, court, or9
judicial officer, the attorney general may disclose a form, additional10
documentary material, or other information listed in subsection (a) of this11
section in an administrative proceeding or judicial action if the proposed12
merger is relevant to the proceeding or action.13
(d) This article 4.5 PART 2 does not:14
(1) Limit any other confidentiality or information-security15
obligation of the attorney general;16
(2) Preclude the attorney general from sharing information with17
the federal trade commission or the United States department of justice18
antitrust division, or a successor agency; or19
(3) Preclude the attorney general from sharing information with20
the attorney general of another state that has enacted the "Uniform21
Antitrust Pre-Merger Notification Act" or a substantively equivalent act.22
The other state's act must include confidentiality provisions at least as23
protective as the confid entiality provi sions of the "Uniform Antitrust24
Pre-Merger Notification Act".25
6-4-205. [Formerly 6-4.5-105] Reciprocity.26
(a) The attorney general may disclose a Hart-Scott-Rodino form27
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and additional documentary material filed or provided under section1
6-4.5-103 6-4-203 to the attorney general of another state that enacts the2
"Uniform Antitrust Pre-Merger Notification Act" or a substantively3
equivalent act. The other state's act must include confidentiality4
provisions at least as protective as the confidentiality provisions of the5
"Uniform Antitrust Pre-Merger Notification Act".6
(b) At least two business days before making a disclosure under7
subsection (a) of this section, the attorney general shall give notice of the8
disclosure to the person filing or providing the form or additional9
documentary material under section 6-4.5-103 6-4-203.10
6-4-206. [Formerly 6-4.5-106] Civil penalty.11
The attorney general may seek imposition of a civil penalty of not12
more than ten thousand dollars per day of noncompliance on a person that13
fails to comply with section 6-4.5-103 (a), (b), or (c) 6-4-203 (a) OR (b).14
A civil penalty imposed under this section is subject to procedural15
requirements applicable to the attorney general, including the16
requirements of due process.17
6-4-207. [Formerly 6-4.5-107] Uniformity of application and18
construction.19
In applying and construing this uniform act, a court shall consider20
the promotion of uniformity of the law among jurisdictions that enact it.21
6-4-208. [Formerly 6-4.5-108] Transitional provision.22
This article 4.5 PART 2 applies only to a pre-merger notification23
filed on or after August 6, 2025.24
PART 325
TRANSACTIONS AFFECTING HEALTH-CARE ENTITIES26
6-4-301. Definitions.27
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AS USED IN THIS PART 3, UNLESS THE CONTEXT OTHERWISE1
REQUIRES:2
(1) (a) "CLINICALLY INTEGRATED NETWORK" MEANS A NETWORK3
IMPLEMENTING AN ACTIVE , ONGOING , AND WRITTEN PROGRAM TO4
EVALUATE AND MODIFY PRACTICE PATTERNS OF THE NETWORK 'S5
PHYSICIAN PARTICIPANTS AND TO CREATE A HIGH DEGREE OF6
INTERDEPENDENCE AND COOPERATION AM ONG THE PHYSICIANS , WHICH7
NETWORK IS REASONABLY DESIGNED TO CONTROL COSTS AND IMPROVE8
PATIENT OUTCOMES.9
(b) "C LINICALLY INTEGRATED NETWORK " INCLUDES AN10
ACCOUNTABLE CARE ORGANIZATION , AS DESCRIBED IN 42 U.S.C. SEC .11
1395jjj.12
(2) (a) "HEALTH-CARE ENTITY" MEANS:13
(I) A NY OF THE FOLLOWING FACILITIES REQUIRED TO BE14
CURRENTLY OR PREVIOUSLY LICENSED OR CERTIFIED IN THE STATE:15
(A) A HEALTH FACILITY DESCRIBED IN SECTION 25-1.5-103 (1)(a);16
OR17
(B) A HOSPITAL AUTHORITY ESTABLISHED PURSUANT TO PART 5 OF18
ARTICLE 21 OF TITLE 23 OR ARTICLE 29 OF TITLE 25;19
(II) A FACILITY PROVIDING URGENT CARE;20
(III) ANY OF THE FOLLOWING EMERGENCY MEDICAL AND TRAUMA21
SERVICES AND ENTITIES:22
(A) A N AMBULANCE SERVICE LICENSED PURSUANT TO SECTION23
25-3.5-314, EXCEPT THOSE WHOLLY OWNED AND OPERATED BY A24
POLITICAL SUBDIVISION OR A GOVERNMENTAL UNIT OR AGENCY;25
(B) A HEALTH FACILITY THAT EMPLOYS OR CONTRACTS FOR26
EMERGENCY MEDICAL SERVICE PROVIDERS PURSUANT TO ARTICLE 3.5 OF27
SB26-041-8-
TITLE 25 TO RENDER MEDICAL CARE TO PATIENTS, EXCEPT THOSE HEALTH1
FACILITIES WHOLLY OWNED AND OPERATED BY A POLITICAL SUBDIVISION2
OR A GOVERNMENTAL UNIT OR AGENCY;3
(C) I MAGING, RADIOLOGY , AND DIAGNOSTIC SERVICES4
ESTABLISHED PURSUANT TO SECTION 25-1-108;5
(D) A CLINICAL LABORATORY REQUIRED TO BE CERTIFIED6
PURSUANT TO 42 U.S.C. SEC. 263a;7
(E) A MAMMOGRAPHY FACILITY REQUIRED TO BE CERTIFIED8
PURSUANT TO 42 U.S.C. SEC. 263b;9
(F) A BEHAVIORAL HEALTH ENTITY , AS DEFINED IN SECTION10
27-50-101;11
(G) A PHARMACY BENEFIT MANAGER PROVIDING SERVICES FOR12
HEALTH PLANS IN COLORADO; AND13
(H) A CORPORATION , PROFESSIONAL SERVICE CORPORATION ,14
PARTNERSHIP, GROUP PRACTICE, PROVIDER NETWORK, BUSINESS TRUST,15
ASSOCIATION, ORGANIZATION , FACILITY , OR OTHER ENTITY THAT16
PROVIDES PROFESSIONAL SERVICES REQUIRED TO BE LICENSED OR17
CERTIFIED PURSUANT TO ARTICLE 200, 210, 215, 220, 230, 240, 245, 255,18
270, 275, 280, 285, 290, 310, OR 315 OF TITLE 12; OR19
(IV) AN ENTITY THAT MEETS THE DEFINITION OF A CARRIER , AS20
DEFINED IN SECTION 10-16-102 (8) OR 24-50-603 (2).21
(b) "HEALTH-CARE ENTITY" DOES NOT INCLUDE:22
(I) A HEALTH FACILITY REQUIRED TO BE LICENSED OR CERTIFIED23
PURSUANT TO ARTICLE 27 OR 27.5 OF TITLE 25, ARTICLE 6 OF TITLE 25.5,24
OR SECTION 25.5-10-214 OR OTHER NURSING , LONG -TERM, HOME , OR25
HOSPICE CARE FACILITIES DESCRIBED IN SECTION 25-1.5-103; OR26
(II) A HEALTH -CARE ENTITY DESCRIBED IN SUBSECTION27
SB26-041-9-
(2)(a)(III)(H) OF THIS SECTION REPRESENTING FEWER THAN SEVEN1
HEALTH-CARE PROVIDERS LICENSED OR CERTIFIED IN COLORADO.2
(3) "HEALTH-CARE PROVIDER" MEANS A PHYSICIAN OR PHYSICIAN3
ASSISTANT LICENSED UNDER ARTICLE 240 OF TITLE 12, OR AN ADVANCED4
PRACTICE REGISTERED NURSE LICENSED UNDER ARTICLE 255 OF TITLE 12,5
WHO PROVIDES HEALTH -CARE SERVICES , INCLUDING MEDICAL CARE ,6
CONSULTATION, DIAGNOSIS, OR TREATMENT.7
(4) (a) "M ATERIAL CHANGE TRANSACTION" OR "TRANSACTION"8
MEANS AN AGREEMENT, ARRANGEMENT, OR ACTIVITY THAT RESULTS IN:9
(I) A PERSON ACQUIRING, DIRECTLY OR INDIRECTLY, INCLUDING10
THROUGH THE ACQUISITION OF AN ULTIMATE PARENT COMPANY , THE11
OWNERSHIP, MANAGEMENT, OPERATIONS, OR CONTROL OF A HEALTH-CARE12
ENTITY;13
(II) THE CONSOLIDATION OF TWO OR MORE ENTITIES, INCLUDING14
CONSOLIDATING THROUGH A COMMON PARENT ORGANIZATION OR15
FORMING A NEW ORGANIZATION , WHERE THE ACQUIRED ENTITY IS A16
HEALTH-CARE ENTITY OR WHERE TWO OR MORE HEALTH -CARE ENTITIES17
ARE UNDER COMMON OWNERSHIP , MANAGEMENT , OR CONTROL AS A18
RESULT OF THE CONSOLIDATION; OR19
(III) ANY RELATIONSHIP BETWEEN TWO OR MORE ENTITIES THAT20
PERMITS THE ENTITIES TO NEGOTIATE JOINTLY WITH INSURERS OR21
THIRD-PARTY ADMINISTRATORS REGARDING RATES PROVIDED BY A22
HEALTH-CARE ENTITY OR THAT PERMITS ONE HEALTH -CARE ENTITY TO23
NEGOTIATE ON BEHALF OF THE OTHER HEALTH -CARE ENTITY WITH24
INSURERS OR THIRD -PARTY ADMINISTRATORS REGARDING RATES FOR25
SERVICES PROVIDED BY A HEALTH-CARE ENTITY.26
(b) "M ATERIAL CHANGE TRANSACTION " OR "TRANSACTION"27
SB26-041-10-
INCLUDES:1
(I) A SERIES OF TRANSACTIONS TAKING PLACE IN ANY FIVE-YEAR2
PERIOD WHERE AN ENTITY THAT HAS PREVIOUSLY ENGAGED IN A3
MATERIAL CHANGE TRANSACTION ACQUIRES ONE OR MORE ADDITIONAL4
HEALTH-CARE ENTITIES ENGAGED IN THE SAME OR SUBSTANTIALLY5
SIMILAR PROFESSIONAL SERVICES AS THAT ENTITY'S PREVIOUS MATERIAL6
CHANGE TRANSACTION;7
(II) A N ACQUISITION OF FORTY PERCENT OR MORE OF VOTING8
SECURITIES OR NONCORPORATE INTERESTS, INCLUDING ASSETS, CAPITAL,9
STOCK, MEMBERSHIP INTERESTS , OR EQUITY INTERESTS , OF A10
HEALTH-CARE ENTITY OR AN ULTIMATE PARENT COMPANY OF A11
HEALTH-CARE ENTITY;12
(III) A N ARRANGEMENT THAT INCLUDES THE SALE OF VOTING13
SECURITIES OR NONCORPORATE INTERESTS IN ANY AMOUNT THAT ALTERS14
VOTING CONTROL OF, OR RESPONSIBILITY FOR, THE GOVERNING BODY OF15
A HEALTH -CARE ENTITY OR AN ULTIMATE PARENT COMPANY OF A16
HEALTH-CARE ENTITY;17
(IV) AN ARRANGEMENT THAT ALLOWS AN ENTITY TO EXERCISE18
DECISION-MAKING AUTHORITY , DIRECTLY OR INDIRECTLY , OVER A19
HEALTH-CARE ENTITY'S ASSETS, LIABILITIES, CONTRACTS, OPERATIONS, OR20
ADMINISTRATION; AND21
(V) A N EXCLUSIVE EMPLOYMENT CONTRACT INVOLVING THE22
ACQUISITION OF FIVE OR MORE HEALTH-CARE PROVIDERS THAT PRACTICE23
AS PART OF THE SAME HEALTH-CARE ENTITY.24
(c) "MATERIAL CHANGE TRANSACTION" OR "TRANSACTION" DOES25
NOT INCLUDE:26
(I) A CORPORATE REORGANIZATION;27
SB26-041-11-
(II) R ELATIONSHIPS BETWEEN ENTITIES UNDER COMMON1
OWNERSHIP;2
(III) A TRANSACTION IDENTIFIED IN SUBSECTION (4)(a) OR (4)(b)3
OF THIS SECTION:4
(A) T HAT HAS A PURCHASE PRICE , CAPITAL COMMITMENT , OR5
EQUIVALENT CONSIDERATION OF LESS THAN TEN MILLION DOLLARS; OR6
(B) WHERE ANY HEALTH-CARE FACILITY THAT IS A PARTY TO THE7
TRANSACTION HAS AN ANNUAL NET PATIENT SERVICE REVENUE OF NO8
MORE THAN FIVE MILLION DOLLARS;9
(IV) A SERVICE OR MANAGEMENT CONTRACT TO PROVIDE10
ADMINISTRATIVE SERVICES TO A HEALTH-CARE ENTITY IF THE CONTRACT11
DOES NOT ALLOW FOR THE SERVICE OR MANAGEMENT PROVIDER TO12
EXERCISE DIRECT OR INDIRECT OPERATIONAL CONTROL OF THE13
HEALTH-CARE ENTITY , INCLUDING DECISIONS RELATED TO SERVICES14
OFFERED AND PRICES;15
(V) THE FORMATION OF CLINICALLY INTEGRATED NETWORKS;16
(VI) C LINICAL AFFILIATIONS SOLELY FOR COLLABORATING ON17
CLINICAL TRIALS AND PROVIDING GRADUATE MEDICAL EDUCATION; OR18
(VII) N ONEXCLUSIVE CONTRACTS BETWEEN A HEALTH -CARE19
ENTITY AND A HEALTH -CARE PROVIDER PRIMARILY FOR CLINICAL20
SERVICES.21
(5) "T HIRD-PARTY ADMINISTRATOR " MEANS AN ENTITY THAT22
ADMINISTERS PAYMENTS FOR HEALTH -CARE SERVICES ON BEHALF OF A23
CLIENT IN EXCHANGE FOR AN ADMINISTRATIVE FEE.24
(6) "ULTIMATE PARENT COMPANY" MEANS AN ENTITY THAT IS NOT25
CONTROLLED BY ANOTHER ENTITY.26
6-4-302. Notice of material change transaction - form of notice27
SB26-041-12-
- notice after modification of terms.1
(1) N O LATER THAN SIXTY DAYS BEFORE THE CLOSING OF A2
MATERIAL CHANGE TRANSACTION, THE PARTIES TO THE MATERIAL CHANGE3
TRANSACTION SHALL SUBMIT WRITTEN NOTICE TO THE ATTORNEY4
GENERAL OF THE MATERIAL CHANGE TRANSACTION IF:5
(a) FOR MATERIAL CHANGE TRANSACTIONS INVOLVING PARTIES6
DESCRIBED IN SECTION 6-4-301 (3):7
(I) ONE OR MORE PARTIES TO THE TRANSACTION, OR AN ULTIMATE8
PARENT COMPANY TO A PARTY TO THE TRANSACTION, HAVE AN AVERAGE9
ANNUAL GROSS REVENUE OF AT LEAST FIVE MILLION DOLLARS;10
(II) T HE TRANSACTION WILL RESULT IN AN ENTITY HAVING A11
PROJECTED AVERAGE ANNUAL GROSS REVENUE OF AT LEAST FIVE MILLION12
DOLLARS; OR13
(III) THE TOTAL CONSIDERATION OFFERED IN THE TRANSACTION14
IS AT LEAST FIVE MILLION DOLLARS; OR15
(b) FOR MATERIAL CHANGE TRANSACTIONS INVOLVING PARTIES16
DESCRIBED IN SECTION 6-4-301 (2):17
(I) ONE OR MORE PARTIES TO THE TRANSACTION, OR AN ULTIMATE18
PARENT COMPANY TO A PARTY TO THE TRANSACTION, HAVE AN AVERAGE19
ANNUAL GROSS REVENUE OF AT LEAST FIFTEEN MILLION DOLLARS;20
(II) T HE TRANSACTION WILL RESULT IN AN ENTITY HAVING A21
PROJECTED AVERAGE ANNUAL GROSS REVENUE OF AT LEAST FIFTEEN22
MILLION DOLLARS; OR23
(III) THE TOTAL CONSIDERATION OFFERED IN THE TRANSACTION24
IS AT LEAST FIFTEEN MILLION DOLLARS.25
(2) FOR A MATERIAL CHANGE TRANSACTION THAT IS SUBJECT TO26
THE NOTICE REQUIREMENTS OF SUBSECTION (1) OF THIS SECTION, WRITTEN27
SB26-041-13-
NOTICE PROVIDED BY THE PARTIES MUST INCLUDE:1
(a) THE NAMES AND HEADQUARTERS BUSINESS ADDRESSES OF ALL2
PARTIES TO THE MATERIAL CHANGE TRANSACTION;3
(b) I DENTIFICATION OF EACH LOCATION WHERE HEALTH -CARE4
SERVICES ARE CURRENTLY PROVIDED BY EACH PARTY TO THE MATERIAL5
CHANGE TRANSACTION;6
(c) T HE ANTICIPATED EFFECTIVE DATE OF THE PROPOSED7
MATERIAL CHANGE TRANSACTION; AND8
(d) A BRIEF DESCRIPTION OF THE NATURE AND PURPOSE OF THE9
PROPOSED MATERIAL CHANGE TRANSACTION AND ANY MATERIAL CHANGE10
TRANSACTIONS COMPLETED BY ONE OR MORE OF THE PARTIES IN THE FIVE11
FISCAL YEARS PRECEDING THE NOTICE . IN LIEU OF PROVIDING A12
DESCRIPTION OF A MATERIAL CHANGE TRANSACTION COMPLETED IN THE13
FIVE FISCAL YEARS PRECEDING THE NOTICE, A PARTY MAY PROVIDE A COPY14
OF THE NOTICE FILED WITH THE ATTORNEY GENERAL IN CONNECTION WITH15
THAT MATERIAL CHANGE TRANSACTION PURSUANT TO SUBSECTION (1) OF16
THIS SECTION.17
(3) NO LATER THAN SIXTY DAYS BEFORE THE EFFECTIVE DATE OF18
A MATERIAL CHANGE TRANSACTION, THE PARTIES TO A MATERIAL CHANGE19
TRANSACTION THAT REQUIRES THE FILING OF A PREMERGER NOTIFICATION20
WITH THE FEDERAL TRADE COMMISSION OR THE UNITED STATES21
DEPARTMENT OF JUSTICE PURSUANT TO THE FEDERAL22
"HART-SCOTT-RODINO ANTITRUST IMPROVEMENTS ACT OF 1976", 1523
U.S.C. SEC . 18a ET SEQ ., SHALL PROVIDE WRITTEN NOTICE TO THE24
ATTORNEY GENERAL, INCLUDING:25
(a) INFORMATION SUFFICIENT TO COMPLY WITH THE PREMERGER26
NOTIFICATION REQUIREMENTS OF THE FEDERAL "HART-SCOTT-RODINO27
SB26-041-14-
ANTITRUST IMPROVEMENTS ACT OF 1976", 15 U.S.C. SEC. 18a ET SEQ.;1
(b) ANY PREVIOUS NOTICES FILED PURSUANT TO SUBSECTION (3)(a)2
OF THIS SECTION OR A BRIEF DESCRIPTION OF THE NATURE AND PURPOSE3
OF EACH MATERIAL CHANGE TRANSACTION INVOLVING ONE OR MORE OF4
THE PARTIES THAT OCCURRED IN THE FIVE FISCAL YEARS PRECEDING THE5
NOTICE; AND6
(c) A CERTIFICATION THAT THE PARTIES WILL MAKE A DESCRIPTION7
OF THE MATERIAL CHANGE TRANSACTION AVAILABLE ON A PUBLIC8
WEBSITE WITHIN SEVEN DAYS AFTER THE MATERIAL CH ANGE9
TRANSACTION HAS BEEN CONSUMMATED , OR AS SOON THEREAFTER AS10
PERMITTED BY STATE AND FEDERAL LAW.11
(4) FOR A MATERIAL CHANGE TRANSACTION THAT IS NOT COVERED12
BY SUBSECTION (1), (2), OR (3) OF THIS SECTION, IF ONE OR MORE PARTIES,13
OR AN ULTIMATE PARENT COMPANY TO A PARTY , HAVE AN AVERAGE14
ANNUAL GROSS REVENUE OF AT LEAST THIRTY MILLION DOLLARS; IF THE15
MATERIAL CHANGE TRANSACTION WILL RESULT IN AN ENTITY HAVING A16
PROJECTED AVERAGE ANNUAL GROSS REVENUE OF AT LEAST THIRTY17
MILLION DOLLARS ; OR IF THE TOTAL CONSIDERATION OFFERED IN THE18
TRANSACTION IS AT LEAST THIRTY MILLION DOLLARS, THE PARTIES SHALL19
PROVIDE WRITTEN NOTICE TO THE ATTORNEY GENERAL NO LATER THAN20
SIXTY DAYS BEFORE THE EFFECTIVE DATE OF THE MATERIAL CHANGE21
TRANSACTION, INCLUDING:22
(a) T HE PARTIES INVOLVED IN THE MATERIAL CHANGE23
TRANSACTION, INCLUDING THE NAMES , HEADQUARTERS BUSINESS24
ADDRESSES, AND WEBSITES OF ALL PARTIES , AND THE NAMES , CURRENT25
HEADQUARTERS BUSINESS ADDRESSES, AND WEBSITES OF ANY ULTIMATE26
PARENT COMPANIES OF THE PARTIES, AS DESCRIBED IN 16 CFR 801.1;27
SB26-041-15-
(b) THE LEADERSHIP OF THE ENTITIES INVOLVED IN THE MATERIAL1
CHANGE TRANSACTION , INCLUDING ALL BOARD MEMBERS , MANAGING2
PARTNERS, MEMBER MANAGERS, AND OFFICERS;3
(c) T HE SERVICES IMPACTED BY THE MATERIAL CHANGE4
TRANSACTION;5
(d) THE CURRENT CONTRACTUAL RELATIONSHIPS BETWEEN THE6
ENTITIES AND INSURERS OR THIRD-PARTY ADMINISTRATORS THAT PROVIDE7
FOR COVERAGE OF HEALTH -CARE SERVICES AND THE PROPOSED8
RELATIONSHIPS BETWEEN THE ENTITIES AND THE AFFECTED INSURERS OR9
THIRD-PARTY ADMINISTRATORS;10
(e) T HE AGREEMENT OR AGREEMENTS THAT GIVE RISE TO THE11
MATERIAL CHANGE TRANSACTION AND ANY RELATED MANAGEMENT OR12
SERVICES CONTRACTS;13
(f) P LANNED AREAS OF EXPANSION , WHETHER IN EXISTING14
MARKETS OR NEW MARKETS;15
(g) ANY PLANS TO CLOSE FACILITIES , REDUCE WORKFORCES, OR16
REDUCE OR ELIMINATE SERVICES;17
(h) ANY PREVIOUS NOTICES FILED WITH THE ATTORNEY GENERAL18
PURSUANT TO THIS SECTION OR A BRIEF DESCRIPTION OF THE NATURE AND19
PURPOSE OF EACH MATERIAL CHANGE TRANSACTION COMPLETED BY ONE20
OR MORE OF THE PARTIES IN THE FIVE FISCAL YEARS PRECEDING THE21
NOTICE; AND22
(i) A CERTIFICATION THAT THE PARTIES WILL MAKE A DESCRIPTION23
OF THE MATERIAL CHANGE TRANSACTION AVAILABLE ON A PUBLIC24
WEBSITE WITHIN SEVEN DAYS AFTER THE MATERIAL CHANGE25
TRANSACTION HAS BEEN CONSUMMATED , OR AS SOON THEREAFTER AS26
PERMITTED BY STATE AND FEDERAL LAW.27
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(5) A NOTICE SUBMITTED PURSUANT TO SUBSECTION (1) OR (2) OF1
THIS SECTION IS NOT SUBJECT TO A CHALLENGE BY THE ATTORNEY2
GENERAL.3
(6) A PARTY TO A MATERIAL CHANGE TRANSACTION MAY SUBMIT4
INFORMATION PURSUANT TO THIS SECTION ON BEHALF OF ANOTHER PARTY5
TO THE SAME TRANSACTION.6
(7) A TRANSACTION OR OTHER DEVICE ENTERED INTO OR7
EMPLOYED FOR THE PURPOSE OF AVOIDING THE OBLIGATION TO COMPLY8
WITH THIS SECTION IS VOID , AND WHETHER THE PARTIES MUST COMPLY9
WITH THE NOTICE REQUIREMENTS OF THIS SECTION IS DETERMINED BY10
APPLYING THIS PART 3 AND ANY ASSOCIATED RULES TO THE SUBSTANCE11
OF THE MATERIAL CHANGE TRANSACTION.12
(8) A PARTY TO A MATERIAL CHANGE TRANSACTION MAY REQUEST13
THAT THE ATTORNEY GENERAL SUBJECT THE MATERIAL CHANGE14
TRANSACTION TO A DIFFERENT CATEGORY OF NOTICE REQUIREMENT , AS15
DESCRIBED IN SUBSECTIONS (1), (2), (3), AND (4) OF THIS SECTION, THAN16
THE NOTICE REQUIREMENT THAT APPLIES DUE TO THE AVERAGE ANNUAL17
GROSS REVENUE CLASSIFICATION OF THE MATERIAL CHANGE18
TRANSACTION. THE ATTORNEY GENERAL MAY GRANT THE PARTY 'S19
REQUEST, CONSIDERING FACTORS INCLUDING WHETHER THE TRANSACTION20
WILL PREVENT THE CLOSURE OF A FACILITY OR PRACTICE IN A RURAL OR21
FRONTIER COMMUNITY.22
(9) (a) A NOTICE PROVIDED PURSUANT TO THIS SECTION CEASES TO23
BE EFFECTIVE IF THE TERMS OF THE MATERIAL CHANGE TRANSACTION ARE24
MATERIALLY ALTERED FOLLOWING THE SUBMISSION OF A WRITTEN NOTICE25
PURSUANT TO THIS SECTION.26
(b) I F THE TERMS OF A MATERIAL CHANGE TRANSACTION ARE27
SB26-041-17-
MATERIALLY ALTERED FOLLOWING THE SUBMISSION OF A WRITTEN NOTICE1
PURSUANT TO THIS SECTION, THE PARTIES SHALL PROVIDE NOTICE TO THE2
ATTORNEY GENERAL OF THE ALTERATION, INCLUDING NEW COPIES OF THE3
INFORMATION REQUIRED UNDER THIS SECTION THAT IS SUBJECT TO4
ALTERATION.5
(10) NOTWITHSTANDING ANY PROVISION OF THIS SECTION TO THE6
CONTRARY, THE ATTORNEY GENERAL MAY WAIVE ALL OR PART OF THE7
DISCLOSURE REQUIREMENTS DESCRIBED IN THIS SECTION.8
(11) N OTHING IN THIS PART 3 PROHIBITS THE PARTIES TO A9
MATERIAL CHANGE TRANSACTION FROM VOLUNTARILY PROVIDING10
INFORMATION TO THE ATTORNEY GENERAL.11
(12) A FINAL ADVERSE ACTION BY A STATE REGULATOR AGAINST12
A PARTY INVOLVED IN A MATERIAL CHANGE TRANSACTION OR A CHANGE13
OF OWNERSHIP FORM REQUIRED BY THE COLORADO DEPARTMENT OF14
PUBLIC HEALTH AND ENVIRONMENT MAY BE SUBMITTED TO ASSIST IN15
SATISFYING THE NOTICE REQUIREMENTS OF THIS SECTION.16
(13) A PARTY TO A MATERIAL CHANGE TRANSACTION SATISFIES17
THE NOTICE REQUIREMENTS DESCRIBED IN THIS SECTION, AS APPLICABLE,18
BY:19
(a) SUBMITTING A PREACQUISITION NOTIFICATION FILED WITH THE20
COMMISSIONER OF INSURANCE PURSUANT TO SECTION 10-3-803.5 (3);21
(b) SUBMITTING AN APPLICATION FOR A CHANGE OF OWNERSHIP22
REQUIRED BY THE COLORADO DEPARTMENT OF PUBLIC HEALTH AND23
ENVIRONMENT FOR THE MATERIAL CHANGE TRANSACTION TO THE24
ATTORNEY GENERAL; OR25
(c) SUBMITTING NOTICE TO THE ATTORNEY GENERAL PURSUANT TO26
SECTION 6-19-202, 6-19-302, OR 6-19-402.27
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6-4-303. Public inspection of records.1
(1) THE ATTORNEY GENERAL SHALL TREAT ALL INFORMATION AND2
MATERIALS PROVIDED TO THE ATTORNEY GENERAL UNDER THIS PART 3 AS3
INVESTIGATIVE RECORDS OR RECORDS REGARDING INTELLIGENCE4
INFORMATION PURSUANT TO SECTION 6-4-111 (6).5
(2) THIS SECTION DOES NOT PROHIBIT THE ATTORNEY GENERAL6
FROM DISCLOSING INFORMATION OBTAINED PURSUANT TO THIS SECTION TO7
ANOTHER LAW ENFORCEMENT AGENCY, ANOTHER DEPARTMENT OF ANY8
GOVERNMENTAL OR PUBLIC ENTITY OF THIS OR ANY OTHER STATE, OR THE9
FEDERAL GOVERNMENT IF THE OTHER LAW ENFORCEMENT AGENCY OR10
DEPARTMENT EXECUTES AN AGREEMENT THAT THE INFORMATION WILL11
REMAIN CONFIDENTIAL AND WILL NOT BE USED IN ANY CRIMINAL12
PROSECUTION AGAINST THE PERSON PROVIDING THE WRITTEN RESPONSE,13
TESTIMONY, OR DOCUMENTS.14
6-4-304. Prohibition of proposed material change transactions15
that may have harmful effects - enforcement.16
(1) A PERSON THAT CONSUMMATES A MATERIAL CHANGE17
TRANSACTION VIOLATES PART 1 OF THIS ARTICLE 4 IF THE MATERIAL18
CHANGE TRANSACTION MAY SUBSTANTIALLY LESSEN COMPETITION OR19
TEND TO CREATE A MONOPOLY OR MAY HARM CONSUMER WELFARE.20
(2) (a) A PARTY TO A MATERIAL CHANGE TRANSACTION SHALL NOT21
CLOSE THE MATERIAL CHANGE TRANSACTION UNTIL:22
(I) AT LEAST SIXTY DAYS HAVE ELAPSED SINCE THE PARTIES TO23
THE MATERIAL CHANGE TRANSACTION LAST SUBMITTED WRITTEN NOTICE24
TO THE ATTORNEY GENERAL OF THE TRANSACTION PURSUANT TO SECTION25
6-4-302 AND THE ATTORNEY GENERAL HAS NOT NOTIFIED THE PARTIES TO26
THE TRANSACTION THAT THE ATTORNEY GENERAL REQUIRES MORE TIME27
SB26-041-19-
TO REVIEW THE TRANSACTION OR THAT THE ATTORNEY GENERAL WILL1
CHALLENGE THE TRANSACTION PURSUANT TO PART 1 OF THIS ARTICLE 4;2
(II) IF THE ATTORNEY GENERAL HAS NOTIFIED THE PARTIES AND3
PROVIDES A GOOD FAITH REASON THAT MORE TIME IS REQUIRED TO4
REVIEW THE TRANSACTION PURSUANT TO SUBSECTION (2)(a)(I) OF THIS5
SECTION, AND THE ATTORNEY GENERAL HAS NOT PROVIDED A SECOND6
NOTICE PURSUANT TO SUBSECTION (2)(a)(III) OF THIS SECTION, AT LEAST7
FORTY-FIVE DAYS HAVE ELAPSED SINCE THE ATTORNEY GENERAL8
PROVIDED THE NOTICE; OR9
(III) IF, NO LATER THAN FORTY-FIVE DAYS AFTER THE FIRST NOTICE10
FOR ADDITIONAL TIME PROVIDED PURSUANT TO SUBSECTION (2)(a)(II) OF11
THIS SECTION , THE ATTORNEY GENERAL AGAIN NOTIFIES THE PARTIES12
THAT MORE TIME IS REQUIRED TO REVIEW THE TRANSACTION AND IS ABLE13
TO SHOW BAD FAITH BY ANY OF THE PARTIES INVOLVED , AT LEAST14
FORTY-FIVE DAYS HAVE ELAPSED SINCE THE ATTORNEY GENERAL15
PROVIDED THE SECOND NOTICE.16
(b) (I) A PARTY TO A MATERIAL CHANGE TRANSACTION DOES NOT17
VIOLATE THIS SECTION BY INITIATING A PROCESS TO OBTAIN APPROVAL OF18
THE MATERIAL CHANGE TRANSACTION FROM ANOTHER STATE AGENCY AS19
REQUIRED BY LAW.20
(II) A DECISION BY ANOTHER STATE AGENCY TO PERMIT OR21
AUTHORIZE A MATERIAL CHANGE TRANSACTION DOES NOT PREVENT THE22
ATTORNEY GENERAL FROM SEEKING RELIEF PURSUANT TO THIS SECTION OR23
PREVENT A COURT FROM FINDING THAT THE MATERIAL CHANGE24
TRANSACTION MAY SUBSTANTIALLY LESSEN COMPETITION OR TEND TO25
CREATE A MONOPOLY OR MAY HARM CONSUMER WELFARE.26
6-4-305. Penalties - remedy - injunction.27
SB26-041-20-
(1) FAILURE OF A PARTY TO A MATERIAL CHANGE TRANSACTION TO1
PROVIDE NOTICE OF THE MATERIAL CHANGE TRANSACTION AS REQUIRED2
BY THIS PART 3 IS AN INDEPENDENT AND SUFFICIENT GROUND FOR A COURT3
TO ENJOIN OR UNWIND THE MATERIAL CHANGE TRANSACTION OR PROVIDE4
OTHER EQUITABLE RELIEF.5
(2) A PERSON THAT FAILS TO PROVIDE TIMELY INFORMATION AS6
REQUIRED BY THE ATTORNEY GENERAL IS LIABLE TO THE STATE FOR A7
CIVIL PENALTY OF NOT MORE THAN TWO HUNDRED DOLLARS PER DAY FOR8
EACH DAY DURING WHICH THE PERSON IS IN VIOLATION OF THIS PART 3.9
BEFORE BRINGING SUCH AN ACTION OR SEEKING TO RECOVER A CIVIL10
PENALTY, THE ATTORNEY GENERAL SHALL PERMIT THE PERSON TO COME11
INTO COMPLIANCE WITH THIS PART 3 WITHIN TEN DAYS AFTER BEING12
NOTIFIED OF THE ALLEGED NONCOMPLIANCE . THE RIGHT TO CURE13
NONCOMPLIANCE DOES NOT EXIST ON OR AFTER THE CLOSING DATE OF THE14
MATERIAL CHANGE TRANSACTION.15
6-4-306. Effect on existing authorities - rules.16
(1) THE ATTORNEY GENERAL MAY ADOPT RULES TO CARRY OUT17
THE PURPOSES OF THIS PART 3, INCLUDING:18
(a) RULES CLARIFYING THE TERMS USED IN THIS PART 3;19
(b) R ULES REQUIRING THAT PERSONS PROVIDE ADDITIONAL20
INFORMATION IN ORDER TO COMPLY WITH SECTION 6-4-302 OR21
PRESCRIBING THE FORM OF NOTICES SUBMITTED PURSUANT TO SECTION22
6-4-302; AND23
(c) O THER RULES AS MAY BE NECESSARY AND APPROPRIATE TO24
CARRY OUT THE PURPOSES OF THIS PART 3.25
(2) (a) NOTHING IN THIS PART 3 LIMITS THE ATTORNEY GENERAL'S26
AUTHORITY UNDER THIS ARTICLE 4, EXCEPT AS EXPRESSLY PROVIDED IN27
SB26-041-21-
THIS PART 3.1
(b) N OTHING IN THIS PART 3 LIMITS THE ATTORNEY GENERAL 'S2
COMMON LAW POWERS.3
(c) N OTHING IN THIS PART 3 AFFECTS THE REGULATORY4
AUTHORITY OF A GOVERNMENTAL AGENCY OTHER THAN THE DEPARTMENT5
OF LAW.6
(d) T HIS PART 3 PROVIDES THE EXCLUSIVE REMEDY FOR A7
VIOLATION OF THIS PART 3.8
SECTION 2. Repeal of relocated provisions in this act. In9
Colorado Revised Statutes, repeal article 4.5 of title 6.10
SECTION 3. In Colorado Revised Statutes, 6-19-101, amend (2)11
as follows:12
6-19-101. Legislative declaration.13
(2) Furthermore, for purposes of the attorney general's authority14
over the transfer of nonprofit hospital assets, all nonprofit hospitals shall15
be deemed to hold all of their assets in trust, and those assets shall be16
deemed to be dedicated to the specific charitable purposes set forth in the17
articles of incorporation or other organic documents of the nonprofit18
entities that hold them in trust. The public is the beneficiary of this trust.19
Nonprofit hospitals have a substantial and beneficial effect on the20
provision of health care to the people of Colorado, providing as part of21
their charitable purposes uncompensated care to the uninsured or22
underinsured and including, but not limited to, providing moneys MONEY23
and support for health-related research and education or other community24
benefits. The general assembly also finds that transfers of the assets of25
nonprofit hospitals to the for-profit sector may directly affect the26
character and extent of the charitable use of those assets or the proceeds27
SB26-041-22-
from the assets. The public also has an interest in knowing that the1
transfer of the assets of a nonprofit hospital, or the proceeds from the2
assets, preserves, to the extent practicable, their charitable purpose. The3
general assembly believes it is in the best interest of the public to ensure4
that the public interest is fully protected whenever the assets of a hospital5
are transferred, to a for-profit entity except in the ordinary course of6
business.7
SECTION 4. In Colorado Revised Statutes, 6-19-102, amend the8
introductory portion, (1), and (3); and add (4) as follows:9
6-19-102. Definitions.10
As used in this article ARTICLE 19, unless the context otherwise11
requires:12
(1) (a) (I) "Covered transaction" means any transaction that would13
result in the sale, transfer, lease, exchange, or other disposition of:14
(A) Fifty percent or more of the assets of a hospital; OR15
(B) THE MANAGEMENT, CONTROL, OR OPERATIONS OF A HOSPITAL.16
(II) A series of transactions taking place in any five-year period17
which THAT would result in the aggregate of the transfer of fifty percent18
or more of a hospital's assets shall in all circumstances be OR THE19
TRANSFER OF THE MANAGEMENT , CONTROL , OR OPERATIONS OF A20
HOSPITAL IS deemed to be a covered transaction.21
(b) "Covered transaction" shall also include INCLUDES the sale,22
transfer, or other disposition of the control of a parent company, holding23
company, or other entity controlling a hospital.24
(c) For the purposes of AS USED IN this subsection (1), "fifty25
percent or more of the assets" shall be based on the fair market value of26
all of the assets of the hospital.27
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(3) "Hospital" means a FACILITY REQUIRED TO BE CURRENTLY OR1
PREVIOUSLY licensed or certified AS A hospital as described in section2
25-1.5-103 (1)(a)(I) and (1)(a)(II), C.R.S. (1)(a), INCLUDING GENERAL3
HOSPITALS, HOSPITAL UNITS, FREESTANDING EMERGENCY DEPARTMENTS,4
CRITICAL ACCESS HOSPITALS , PSYCHIATRIC HOSPITALS , COMMUNITY5
CLINICS, REHABILITATION HOSPITALS, AMBULATORY SURGICAL CENTERS,6
AND OTHER SIMILAR FACILITIES.7
(4) "N ONPROFIT ENTITY " MEANS AN ENTITY THAT IS NOT A8
FOR-PROFIT ENTITY , INCLUDING A NONPROFIT CORPORATION AND AN9
ENTITY OPERATED BY A SPECIAL DISTRICT.10
SECTION 5. In Colorado Revised Statutes, 6-19-103, amend (1)11
as follows:12
6-19-103. Procedures for covered transactions - notice -13
attorney general powers.14
(1) The parties to a covered transaction shall provide notice of15
such transaction to the attorney general no later than sixty NINETY days16
prior to the transaction closing or THE effective date of the transaction.17
The notice to the attorney general shall be in writing; shall include the18
information required in section 6-19-202, 6-19-302, or 6-19-402, OR19
6-19-502, as applicable; and shall contain a certification that public notice20
of the transaction will be given within seven days after the notification to21
the attorney general.22
SECTION 6. In Colorado Revised Statutes, amend 6-19-202 as23
follows:24
6-19-202. Notice.25
Notice shall be provided by the parties to a covered transaction26
according to s ection 6-19-103 and shall include a statement on the27
SB26-041-24-
charitable purposes AND CHARITABLE MISSIONS of each nonprofit entity1
entering into the covered transaction AND THE SERVICES PROVIDED BY2
EACH NONPROFIT ENTITY IN FURTHERANCE OF THE NONPROFIT ENTITY 'S3
CHARITABLE PURPOSES AND CHARITABLE MISSIONS, as well as a statement4
concerning the relationship of these CHARITABLE purposes AND MISSIONS5
to the EACH hospital involved in the transaction. I F APPLICABLE , the6
statement may SHALL include a certification by the chief executive officer7
as approved by the board of directors or board of trustees of the nonprofit8
entity transferring its assets that there will be no material change in the9
charitable purposes, CHARITABLE MISSIONS, OR SERVICES PROVIDED IN10
FURTHERANCE OF THE CHARITABLE PURPOSES OR MISSIONS to which the11
transferred assets are dedicated as a result of the transaction.12
SECTION 7. In Colorado Revised Statutes, repeal and reenact,13
with amendments, 6-19-203 as follows:14
6-19-203. Attorney general review and assessment.15
(1) A COVERED TRANSACTION THAT WILL NOT RESULT IN A16
MATERIAL CHANGE IN THE CHARITABLE PURPOSES, CHARITABLE MISSIONS,17
OR SERVICES PROVIDED IN FURTHERANCE OF THE CHARITABLE PURPOSES18
OR MISSIONS OF A NONPROFIT ENTITY ENTERING INTO THE COVERED19
TRANSACTION, AND WILL NOT RESULT IN A TERMINATION OF THE20
ATTORNEY GENERAL'S JURISDICTION OVER THE CHARITABLE ASSETS DUE21
TO A TRANSFER OF A MATERIAL AMOUNT OF THOSE ASSETS OUTSIDE OF22
THE STATE OF COLORADO, MAY PROCEED WITHOUT FURTHER REVIEW23
UNDER THIS ARTICLE 19. WHEN REVIEWING WHETHER A MATERIAL24
CHANGE WILL RESULT FROM A TRANSACTION, THE ATTORNEY GENERAL'S25
AUTHORITY INCLUDES:26
(a) C ONTRACTING WITH , CONSULTING WITH , AND RECEIVING27
SB26-041-25-
ADVICE FROM A STATE AGENCY ON TERMS AND CONDITIONS THAT THE1
ATTORNEY GENERAL AND THE DIRECTOR OF THE AGENCY DEEM2
APPROPRIATE;3
(b) R EQUIRING PRODUCTION OF MATERIAL DOCUMENTATION ,4
INCLUDING THE PROPOSED AGREEMENTS RELATING TO THE PROPOSED5
TRANSACTION, AGREEMENTS REGARDING COLLATERAL TRANSACTIONS6
RELATING TO THE PROPOSED TRANSACTION , AND ANY REPORTS OF7
FINANCIAL AND ECONOMIC ANALYSIS THAT THE PARTIES REVIEWED OR8
RELIED ON IN NEGOTIATING THE PROPOSED TRANSACTION . EXCEPT FOR9
DOCUMENTS THE ATTORNEY GENERAL DETERMINES TO BE CONFIDENTIAL10
AS A MATTER OF LAW , THE DOCUMENTS FILED PURSUANT TO THIS11
SUBSECTION (1)(b) MUST BE MADE AVAILABLE TO THE PUBLIC FOR REVIEW12
AND COPYING DURING NORMAL BUSINESS HOURS AT BOTH THE ATTORNEY13
GENERAL'S OFFICE AND THE OFFICES OF THE PARTIES TO THE14
TRANSACTION. REASONABLE COSTS OF COPYING SHALL BE BORNE BY THE15
PARTIES IF COPIES ARE REQUESTED AT THEIR OFFICES.16
(c) PUBLISHING PUBLIC NOTICE OF THE COVERED TRANSACTION .17
THE PUBLIC NOTICE MAY INCLUDE THE FOLLOWING INFORMATION:18
(I) A GENERAL STATEMENT DESCRIBING THE TERMS OF THE19
TRANSACTION;20
(II) T HE PROPOSED DATE FOR THE CLOSING OR THE EFFECTIVE21
DATE OF THE TRANSACTION;22
(III) I F APPLICABLE , THE CHIEF EXECUTIVE OFFICER 'S23
CERTIFICATION, AS REQUIRED BY SECTION 6-19-202;24
(IV) THE MEANS BY WHICH PUBLIC COMMENT CAN BE RECEIVED;25
AND26
(V) INFORMATION RELATED TO A PUBLIC HEARING HELD PURSUANT27
SB26-041-26-
TO SUBSECTION (1)(e) OF THIS SECTION;1
(d) PROVIDING AN OPPORTUNITY FOR PUBLIC COMMENT; AND2
(e) H OLDING A PUBLIC HEARING IN THE SAME MANNER AS3
REQUIRED BY SECTION 6-19-404 (1).4
(2) I N CONDUCTING A REVIEW TO DETERMINE WHETHER A5
MATERIAL CHANGE WILL RESULT FROM A TRANSACTION, THE ATTORNEY6
GENERAL MAY CONSIDER THE FOLLOWING FACTORS:7
(a) WHETHER THE TRANSACTION WILL RESULT IN ANY REDUCTIONS8
IN THE AVAILABILITY AND ACCESSIBILITY OF HEALTH-CARE SERVICES IN9
THE COMMUNITIES SERVED BY THE HOSPITAL;10
(b) WHETHER THE TRANSACTION WILL RESULT IN ANY REDUCTION11
IN THE PROVISION OF COMMUNITY BENEFIT SPENDING OR ACTIVITIES AS12
SET FORTH IN PART 7 OF ARTICLE 1 OF TITLE 25.5; OR13
(c) WHETHER THE TRANSACTION WILL RESULT IN ANY REDUCTIONS14
IN HEALTH-CARE SERVICES PROVIDED TO PUBLIC BENEFITS RECIPIENTS ,15
THE UNDERINSURED, OR THE UNINSURED.16
(3) IF A TRANSACTION COVERED BY THIS PART 2 WILL RESULT IN A17
MATERIAL CHANGE IN THE CHARITABLE PURPOSES, CHARITABLE MISSIONS,18
OR SERVICES PROVIDED IN FURTHERANCE OF THE CHARITABLE PURPOSES19
OR MISSIONS OF A NONPROFIT ENTITY ENTERING INTO THE COVERED20
TRANSACTION, OR IF A TRANSACTION WILL RESULT IN A TERMINATION OF21
THE ATTORNEY GENERAL'S JURISDICTION OVER A HOSPITAL'S ASSETS DUE22
TO A TRANSFER OF A MATERIAL AMOUNT OF THOSE ASSETS OUTSIDE THE23
STATE OF COLORADO, THE ATTORNEY GENERAL MAY EXERCISE THEIR24
COMMON LAW AUTHORITY TO ASSESS AND REVIEW OR CHALLENGE THE25
TRANSACTION AS DEEMED APPROPRIATE BY THE ATTORNEY GENERAL. IF26
THE ATTORNEY GENERAL CONDUCTS AN ASSESSMENT OR REVIEW , THE27
SB26-041-27-
FOLLOWING PROVISIONS APPLY TO THE ACTIONS OF THE ATTORNEY1
GENERAL:2
(a) T HE ATTORNEY GENERAL SHALL PERFORM A REVIEW AND3
ASSESSMENT TO THE EXTENT PRACTICABLE AND WITH DUE4
CONSIDERATION TO THE FINANCIAL CIRCUMSTANCES OF THE PARTIES TO5
THE TRANSACTION;6
(b) IN ADDITION TO THE AUTHORITY GRANTED TO THE ATTORNEY7
GENERAL UNDER SUBSECTION (1) OF THIS SECTION , THE ATTORNEY8
GENERAL MAY:9
(I) C ONTRACT WITH PERSONS , INCLUDING ATTORNEYS ,10
ACCOUNTANTS, ACTUARIES , FINANCIAL ANALYSTS , AND HEALTH -CARE11
ANALYSTS, AS IS REASONABLE AND NECESSARY TO ASSIST IN REVIEWING12
A PROPOSED TRANSACTION. CONTRACT COSTS SHALL BE BORNE BY THE13
PARTIES TO THE TRANSACTION AND MUST NOT EXCEED AN AMOUNT THAT14
IS REASONABLY NECESSARY TO CONDUCT THE REVIEW AND ASSESSMENT.15
(II) ACCEPT AND EXPEND GRANTS, DONATIONS, OR BOTH, NOT TO16
EXCEED FIFTY THOUSAND DOLLARS FOR THE PURPOSE OF THE17
IMPLEMENTATION OF THIS ARTICLE 19. THE STATE TREASURER SHALL18
CREDIT THE GRANT OR DONATION TO THE NONPROFIT HEALTH CARE19
ENTITY REVIEW CASH FUND CREATED IN SECTION 6-19-406 (1)(f). T HE20
ATTORNEY GENERAL MAY EXPEND MONEY FROM THE NONPROFIT HEALTH21
CARE ENTITY REVIEW CASH FUND CREATED IN SECTION 6-19-406 (1)(f)22
FOR THE PURPOSES OF THIS ARTICLE 19.23
(c) THE ATTORNEY GENERAL MAY ALLOW A TRANSACTION THAT24
SATISFIES THE FOLLOWING CRITERIA:25
(I) T HE ASSETS CONTINUE TO BE DEDICATED TO THE SAME26
CHARITABLE PURPOSE AND MISSION RELATED TO THE PROVISION OF27
SB26-041-28-
HEALTH-CARE SERVICES IN THE COMMUNITY SERVED BY THE HOSPITAL ,1
UNLESS DOING SO IS UNLAWFUL, IMPRACTICABLE, IMPOSSIBLE TO ACHIEVE,2
OR WASTEFUL, IN WHICH CASE THE ASSETS CONTINUE TO BE DEDICATED TO3
A SIMILAR CHARITABLE PURPOSE AND MISSION;4
(II) T HE DIRECTORS OR TRUSTEES OF THE PARTIES TO THE5
TRANSACTION HAVE NOT ACTED UNREASONABLY IN LIGHT OF THE6
FINANCIAL CIRCUMSTANCES OF THE PARTIES;7
(III) T HE DIRECTORS OR TRUSTEES OF THE PARTIES TO THE8
TRANSACTION HAVE NOT ACTED UNREASONABLY IN ACCOMMODATING THE9
AFFECTED COMMUNITY OR COMMUNITIES; AND10
(IV) T HE DIRECTORS OR TRUSTEES OF THE PARTIES TO THE11
TRANSACTION HAVE NOT BREACHED THEIR FIDUCIARY DUTIES OR12
OTHERWISE ENGAGED IN MISCONDUCT IN NEGOTIATING OR ENGAGING IN13
THE TRANSACTION; AND14
(d) T HE ATTORNEY GENERAL MAY LIBERALLY CONSTRUE THE15
CRITERIA SET FORTH IN SUBSECTION (3)(c) OF THIS SECTION IN FAVOR OF16
ALLOWING A TRANSACTION TO PROCEED.17
SECTION 8. In Colorado Revised Statutes, amend 6-19-302 as18
follows:19
6-19-302. Notice.20
(1) The parties to a covered transaction governed by this part 321
shall provide the notice required by section 6-19-103.22
(2) THE NOTICE REQUIRED BY THIS SECTION MUST:23
(a) IDENTIFY THE ENTITIES INVOLVED IN THE TRANSACTION; AND24
(b) I NCLUDE A SUMMARY OF THE MAIN TERMS OF THE25
TRANSACTION, INCLUDING HOW HOSPITAL ASSETS AND HEALTH -CARE26
SERVICES WILL BE AFFECTED BY THE TRANSACTION AND WHETHER A27
SB26-041-29-
NONPROFIT ENTITY'S ASSETS WILL BE AFFECTED BY THE TRANSACTION.1
SECTION 9. In Colorado Revised Statutes, add part 5 to article2
19 of title 6 as follows:3
PART 54
FOR-PROFIT TO NONPROFIT TRANSACTIONS5
6-19-501. Scope of part 5.6
THIS PART 5 APPLIES TO COVERED TRANSACTIONS INVOLVING A7
FOR-PROFIT HOSPITAL AND A NONPROFIT ENTITY.8
6-19-502. Notice.9
(1) THE PARTIES TO A COVERED TRANSACTION GOVERNED BY THIS10
PART 5 SHALL PROVIDE THE NOTICE REQUIRED BY SECTION 6-19-103. THE11
NOTICE MUST IDENTIFY:12
(a) THE ENTITIES INVOLVED IN THE TRANSACTION;13
(b) A SUMMARY OF THE MAIN TERMS OF THE TRANSACTION ,14
INCLUDING HOW HOSPITAL ASSETS AND HEALTH-CARE SERVICES WILL BE15
AFFECTED BY THE TRANSACTION; AND16
(c) THE CHARITABLE PURPOSES AND MISSIONS OF THE NONPROFIT17
ENTITIES INVOLVED IN THE TRANSACTION , INCLUDING THE PROPOSED18
CHARITABLE PURPOSE AND MISSION OF THE NEW NONPROFIT HOSPITAL.19
6-19-503. Attorney general review and assessment.20
THE ATTORNEY GENERAL MAY EXERCISE THEIR COMMON LAW21
AUTHORITY TO ASSESS AND REVIEW OR CHALLENGE A COVERED22
TRANSACTION GOVERNED BY THIS PART 5 AS DEEMED APPROPRIATE BY23
THE ATTORNEY GENERAL . IF THE ATTORNEY GENERAL DECIDES TO24
CONDUCT AN ASSESSMENT OR REVIEW , THE ATTORNEY GENERAL MAY25
CONSIDER THE FACTORS AND TAKE THE ACTIONS SET FORTH IN SECTION26
6-19-203.27
SB26-041-30-
SECTION 10. In Colorado Revised Statutes, add 25-49-107 as1
follows:2
25-49-107. Providers - physicians - disclosure of certain3
referrals - study and report - definitions - repeal.4
(1) AS USED IN THIS SECTION, UNLESS THE CONTEXT OTHERWISE5
REQUIRES:6
(a) "DESIGNATED HEALTH SERVICES" HAS THE MEANING SET FORTH7
IN SECTION 25.5-4-414 (1)(a).8
(b) "F INANCIAL RELATIONSHIP " MEANS AN OWNERSHIP OR9
INVESTMENT INTEREST IN AN ENTITY FURNISHING DESIGNATED HEALTH10
SERVICES. AN OWNERSHIP OR INVESTMENT INTEREST MAY BE REFLECTED11
IN EQUITY, DEBT, OR OTHER INSTRUMENTS.12
(c) "I MMEDIATE FAMILY MEMBER OF THE PROVIDER " MEANS A13
SPOUSE, NATURAL OR ADOPTIVE PARENT, SIBLING, NATURAL OR ADOPTIVE14
CHILD, STEPPARENT , STEPCHILD , STEPSIBLING, IN -LAW, GRANDPARENT ,15
GRANDCHILD, OR SPOUSE OF A GRANDPARENT OR GRANDCHILD OF A16
PROVIDER.17
(d) "PROVIDER" MEANS:18
(I) A DOCTOR OF MEDICINE OR OSTEOPATHY WHO IS LICENSED TO19
PRACTICE MEDICINE PURSUANT TO ARTICLE 240 OF TITLE 12;20
(II) A DOCTOR OF DENTAL SURGERY OR DENTAL MEDICINE WHO IS21
LICENSED TO PRACTICE DENTISTRY PURSUANT TO ARTICLE 220 OF TITLE22
12;23
(III) A DOCTOR OF PODIATRIC MEDICINE WHO IS LICENSED TO24
PRACTICE PODIATRY PURSUANT TO ARTICLE 290 OF TITLE 12;25
(IV) A DOCTOR OF OPTOMETRY WHO IS LICENSED TO PRACTICE26
OPTOMETRY PURSUANT TO ARTICLE 275 OF TITLE 12; OR27
SB26-041-31-
(V) A CHIROPRACTOR WHO IS LICENSED TO PRACTICE1
CHIROPRACTIC PURSUANT TO ARTICLE 215 OF TITLE 12.2
(2) (a) I F A PROVIDER REFERS A PATIENT TO AN ENTITY FOR3
DESIGNATED HEALTH SERVICES AND THE PROVIDER , OR AN IMMEDIATE4
FAMILY MEMBER OF THE PROVIDER, HAS A FINANCIAL RELATIONSHIP WITH5
THE ENTITY, THE PROVIDER SHALL DISCLOSE, OR PROVIDE CONSPICUOUS6
NOTICE IN A COMMON AREA THAT IS ACCESSIBLE TO ANYONE, THE NATURE7
OF THE FINANCIAL RELATIONSHIP TO THE PATIENT AT THE TIME OF THE8
REFERRAL. AT THE PATIENT'S REQUEST, THE PROVIDER MAY PROVIDE THE9
PATIENT WITH REASONABLE ALTERNATIVE REFERRAL OPTIONS FOR10
ENTITIES WITH WHICH THE PROVIDER, OR AN IMMEDIATE FAMILY MEMBER11
OF THE PROVIDER, DOES NOT HAVE A FINANCIAL RELATIONSHIP.12
(b) S UBSECTION (2)(a) OF THIS SECTION DOES NOT APPLY TO A13
FINANCIAL RELATIONSHIP THAT MEETS THE REQUIREMENTS OF AN14
EXCEPTION TO THE PROHIBITIONS ESTABLISHED IN 42 U.S.C. SEC. 1395nn15
OR REGULATIONS ADOPTED PURSUANT TO 42 U.S.C. SEC. 1395nn.16
(c) S UBSECTION (2)(a) OF THIS SECTION DOES NOT APPLY TO A17
FINANCIAL RELATIONSHIP OR A REFERRAL FOR DESIGNATED HEALTH18
SERVICES IF THE FINANCIAL RELATIONSHIP OR REFERRAL FOR DESIGNATED19
HEALTH SERVICES WOULD NOT VIOLATE 42 U.S.C. SEC . 1395nn OR20
REGULATIONS ADOPTED PURSUANT TO 42 U.S.C. SEC. 1395nn.21
(3) AN ENTITY THAT PROVIDES DESIGNATED HEALTH SERVICES AS22
A RESULT OF A REFERRAL WITHOUT INFORMING THE PATIENT OF THE23
REFERRING PROVIDER'S FINANCIAL INTEREST, OR THE FINANCIAL INTEREST24
OF AN IMMEDIATE FAMILY MEMBER OF THE REFERRING PROVIDER, IN THE25
ENTITY PURSUANT TO SUBSECTION (2)(a) OF THIS SECTION SHALL NOT26
PRESENT A CLAIM OR BILL TO AN INDIVIDUAL, A THIRD-PARTY PAYER, THE27
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DEPARTMENT OF HEALTH CARE POLICY AND FINANCING , OR ANY OTHER1
ENTITY FOR THE DESIGNATED HEALTH SERVICES.2
(4) A PROVIDER THAT FAILS TO PROVIDE THE FINANCIAL3
RELATIONSHIP DISCLOSURE REQUIRED UNDER THIS SECTION THREE OR4
MORE TIMES IS SUBJECT TO A FIVE-HUNDRED-DOLLAR FINE.5
(5) (a) THE ATTORNEY GENERAL SHALL STUDY THE EFFECT OF THIS6
SECTION AND THE IMPACT ON CONSUMER KNOWLEDGE AND COSTS.7
(b) ON OR BEFORE NOVEMBER 15, 2029, THE ATTORNEY GENERAL8
SHALL INCLUDE, AS PART OF THE DEPARTMENT OF LAW 'S PRESENTATION9
DURING ITS"SMART ACT" HEARING REQUIRED BY SECTION 2-7-203, THE10
FINDINGS OF THE STUDY CONDUCTED PURSUANT TO SUBSECTION (5)(a) OF11
THIS SECTION.12
(c) T HIS SUBSECTION (5) IS REPEALED , EFFECTIVE JANUARY 1,13
2030.14
SECTION 11. In Colorado Revised Statutes, amend 6-4-101 as15
follows:16
6-4-101. Short title.17
The short title of this article 4 PART 1 is the "Colorado State18
Antitrust Act of 2023".19
SECTION 12. In Colorado Revised Statutes, amend 6-4-108 as20
follows:21
6-4-108. Facilitating or aiding and abetting.22
(1) It is unlawful to facilitate or aid and abet another person in23
violating this article 4 PART 1.24
(2) Each separate instance of facilitating or aiding and abetting25
another person in violating this article 4 PART 1 is a separate violation of26
this article 4 PART 1.27
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SECTION 13. In Colorado Revised Statutes, 6-4-109, amend (2)1
introductory portion, (3), (4), and (5) introductory portion as follows:2
6-4-109. Exemptions.3
(2) Nothing in this article 4 PART 1 shall be construed to:4
(3) A professional review committee constituted and conducting5
its reviews and activities in accordance with the provisions of part 2 of6
article 30 of title 12, or the members of the professional review7
committee, shall not be held or construed to be an illegal combination or8
conspiracy in restraint of trade under this article 4 PART 1.9
(4) Any person, activity, or conduct exempt or immune under the10
laws of this state or exempt or immune from the federal antitrust laws is11
exempt or immune from this article 4 PART 1 without regard to any12
monetary threshold imposed by federal law; except that nothing in this13
article 4 PART 1 shall be deemed to modify the specific provisions of part14
4 of article 4 of title 10.15
(5) Nothing in this article 4 PART 1 prohibits or shall be construed16
to prohibit the formation and operation of:17
SECTION 14. In Colorado Revised Statutes, amend 6-4-110 as18
follows:19
6-4-110. Jurisdiction - venue.20
(1) Primary jurisdiction of any cause of action brought pursuant21
to this article 4 PART 1 is vested in the district courts of this state.22
(2) Any cause of action brought pursuant to this article 4 PART 123
may be brought in any judicial district in which the alleged violation24
occurred, any injury was allegedly suffered, or any defendant resides.25
SECTION 15. In Colorado Revised Statutes, 6-4-111, amend (1)26
introductory portion, (1)(c), (5) introductory portion, and (6) as follows:27
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6-4-111. Civil discovery request - rules.1
(1) When the attorney general has reasonable cause to believe that2
any person has engaged in, is engaging in, or may have information3
related to a violation of this article 4 PART 1 or of any provision of the4
federal antitrust statutes that may be enforced by the attorney general, the5
attorney general may:6
(c) Make true copies, at the expense of the attorney general, of any7
documents examined pursuant to subsection (1)(b) of this section, which8
copies may be offered into evidence in lieu of the originals in any civil9
action brought pursuant to this article 4 PART 1. The person producing the10
documents may require that the attorney general make copies of the11
documents. If the attorney general determines the use of originals is12
necessary, the attorney general shall pay to have copies of those13
documents made for use by the person producing the documents.14
(5) If any person fails to appear or fails to cooperate with any15
investigation or inquiry pursuant to a request or subpoena issued pursuant16
to this section, the attorney general may apply to any district court for an17
appropriate order to effect the purposes of this section. The application18
must state that there is reasonable cause to believe that the order applied19
for is necessary to investigate, prosecute, or terminate a violation of this20
article 4 PART 1. If the court is satisfied that reasonable cause exists, the21
court may:22
(6) (a) The attorney general may deem any investigative records23
or records regarding intelligence information obtained under this article24
4 PART 1 public records subject to public inspection pursuant to part 2 of25
article 72 of title 24.26
(b) Nothing in this subsection (6) shall be construed to prevent or27
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limit the attorney general's authority to issue public statements describing1
or warning of any course of conduct or conspiracy that violates this article2
4 PART 1, whether the public statements are made on a local, statewide,3
regional, or nationwide basis.4
SECTION 16. In Colorado Revised Statutes, amend 6-4-112 as5
follows:6
6-4-112. Enforcement by the attorney general.7
(1) The attorney general may institute actions or proceedings to8
prevent or restrain violations of this article 4 PART 1, including actions to9
prevent or restrain unfair methods of competition in or affecting10
commerce.11
(2) The attorney general may bring a civil action on behalf of the12
state or any governmental or public entity injured, either directly or13
indirectly, in its business or property by reason of any violation of this14
article 4 PART 1 and, if successful, shall recover any actual damages15
sustained by the entity. If the violation alleged and proved is determined16
by the court to be a per se violation of this article 4 PART 1, the attorney17
general, on behalf of the entity, may recover three times the actual18
damages that the entity sustains.19
(3) (a) The attorney general may bring a civil action as parens20
patriae on behalf of any individual residing within the state who is21
injured, either directly or indirectly, in the individual's business or22
property by reason of any violation of this article 4 PART 1 and, if23
successful, shall recover any actual damages sustained by the individual.24
If the violation alleged and proved is determined by the court to be a per25
se violation of this article 4 PART 1, the attorney general, on behalf of the26
individual, may recover three times the actual damages that the individual27
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sustains.1
(b) In any parens patriae action in which actual or treble damages2
are recovered, the court, in its discretion, may determine that the amount3
of damages recovered is too small to make any refund to parens group4
members practicable. In that event, the court may direct the damages to5
be paid to the general fund of the state or to some other governmental or6
public entity as the court deems appropriate or may require that damages7
be paid as rebates or price reductions to future consumers.8
(4) In addition to any other remedies provided in this article 49
PART 1, the attorney general may request, and a court may make, orders10
or judgments as may be necessary to:11
(a) Fully compensate or make whole any person injured, either12
directly or indirectly, by means of any restraint of trade in violation of this13
article 4 PART 1; or14
(b) Prevent any unjust enrichment by any person through any15
restraint of trade in violation of this article 4 PART 1.16
(5) In any action brought pursuant to this article 4 PART 1, the17
attorney general, if successful, is entitled to recover the costs of18
investigation, expert fees, costs of the action, and reasonable attorney19
fees.20
SECTION 17. In Colorado Revised Statutes, 6-4-113, amend (1)21
as follows:22
6-4-113. Civil penalties.23
(1) The attorney general may bring a civil action on behalf of the24
state to seek the imposition of a civil penalty for any violation of this25
article 4 PART 1. The court, upon finding a violation of this article 4 PART26
1, shall impose a civil penalty to be paid to the general fund of the state27
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in an amount not to exceed one million dollars for each such violation.1
SECTION 18. In Colorado Revised Statutes, 6-4-114, amend (1)2
as follows:3
6-4-114. Enforcement - injunction.4
(1) Any person injured, either directly or indirectly, in its business5
or property by reason of a violation of this article 4 PART 1 may file an6
action to prevent or restrain the violation.7
SECTION 19. In Colorado Revised Statutes, 6-4-115, amend (1)8
as follows:9
6-4-115. Enforcement - civil damages.10
(1) Any person injured, either directly or indirectly, in its business11
or property by reason of any violation of this article 4 PART 1 may sue12
and, if succe ssful, is entitled to recover any actual damages that the13
person sustained. If the violation alleged and proved is determined by the14
court to be a per se violation of this article 4 PART 1, the person may15
recover three times the actual damages that the person sustains.16
SECTION 20. In Colorado Revised Statutes, amend 6-4-116 as17
follows:18
6-4-116. Notice to the attorney general.19
Any person that files a civil action that includes any allegation of20
a violation of this article 4 PART 1 shall, simultaneously with the filing of21
the action in district court, serve a copy of the complaint on the attorney22
general.23
SECTION 21. In Colorado Revised Statutes, 6-4-118, amend (1)24
as follows:25
6-4-118. Enforcement - criminal proceedings.26
(1) The attorney general shall prosecute all criminal proceedings27
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for violations of this article 4 PART 1, whether by indictment or direct1
information filed in the appropriate district court.2
SECTION 22. In Colorado Revised Statutes, amend 6-4-119 as3
follows:4
6-4-119. Statute of limitations.5
(1) Any civil action commenced pursuant to this article 4 PART 16
must be brought within four years after the date that the cause of action7
accrued. For purposes of this article 4 PART 1, a cause of action accrues:8
(a) When the circumstances giving rise to the cause of action are9
discovered or should have been discovered in the exercise of reasonable10
diligence; or11
(b) On the date that the last in a series of acts or practices in12
violation of this article 4 PART 1 occurred, including any acquisitions or13
series of acquisitions that, in the aggregate, may constitute a violation of14
this article 4 PART 1.15
(2) Any criminal proceeding brought pursuant to this article 416
PART 1 must be commenced within six years after the alleged criminal act17
occurred.18
(3) If the attorney general commences a proceeding or action for19
any violation of this article 4 PART 1, the running of the statute of20
limitations with respect to every cause of action that is based in whole or21
in part on any matter complained of in the proceeding or action is22
suspended during the pendency of the proceeding or action and for one23
year after the conclusion of the proceeding or action.24
(4) Whenever any civil or criminal proceeding is brought by the25
United States to prevent, restrain, or punish violations of any federal26
antitrust laws, the running of the statute of limitations with respect to any27
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action under this article 4 PART 1 that is based in whole or in part on any1
matter complained of in the federal proceeding is suspended during the2
pendency of the federal proceeding and for one year after the conclusion3
of the federal proceeding.4
(5) Except as expressly provided in subsections (1) and (2) of this5
section, no other limitation terminates the period within which the6
attorney general may file an action for a violation of this article 4 PART 1.7
SECTION 23. In Colorado Revised Statutes, amend 6-4-120 as8
follows:9
6-4-120. Remedies - cumulative.10
The remedies provided in this article 4 PART 1 are cumulative11
except as otherwise expressly limited.12
SECTION 24. In Colorado Revised Statutes, amend 6-4-121 as13
follows:14
6-4-121. Void contracts - refund.15
(1) Any contract or agreement that a person makes while a16
member of any combination, conspiracy, trust, or pool prohibited under17
this article 4 PART 1 that is founded upon, is the result of, grows out of,18
or is connected with any violation of this article 4 PART 1, either directly19
or indirectly, is void, and the person may not recover based on or benefit20
from the contract or agreement.21
(2) Any payments made upon, under, or pursuant to a contract or22
agreement for the benefit of a person that is a member of any23
combination, conspiracy, trust, or pool prohibited under this article 424
PART 1 may be recovered in an action brought by the party making the25
payments or by the party's heirs, personal representatives, or assigns.26
SECTION 25. In Colorado Revised Statutes, amend 24-21-62627
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as follows:1
24-21-626. Unfair trade practices.2
(1) The provisions of the "Unfair Practices Act", article 2 of title3
6, and the "Colorado State Antitrust Act of 2023", PART 1 OF article 4 of4
title 6, are specifically applicable to charitable gaming activities5
conducted by any licensee. Within thirty days after receiving a complaint6
alleging a violation of either of the acts, the licensing authority shall7
transmit the complaint to the attorney general.8
(2) The licensing authority shall revoke the license of a licensee9
that violates any provision of article 2 of title 6 or PART 1 OF article 4 of10
title 6 for a period of one year after the date of the finding of the11
violation. Upon the expiration of such period, the licensee may apply for12
the issuance of a new license.13
SECTION 26. In Colorado Revised Statutes, amend 25-17-41014
as follows:15
25-17-410. Limited exemption from antitrust, restraint of16
trade, and unfair trade practices provisions.17
If a producer or group of producers participating in a paint18
stewardship program or a stewardship organization contracted by one or19
more producers to implement a paint stewardship program engages in an20
activity performed solely in furtherance of implementing the paint21
stewardship program and in compliance with the provisions of this part22
4, the activity is not a violation of the antitrust, restraint of trade, and23
unfair trade practices provisions of the "Unfair Practices Act", article 224
of title 6, or the "Colorado State Antitrust Act of 2023", PART 1 OF article25
4 of title 6.26
SECTION 27. In Colorado Revised Statutes, amend 25-17-71127
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as follows:1
25-17-711. Limited exemption from antitrust, restraint of2
trade, and unfair trade practices provisions.3
If the program or any other plan approved by the executive director4
pursuant to this part 7 engages in an activity performed solely in5
furtherance of implementing the program or plan and in compliance with6
this part 7, the activity is not a violation of the antitrust, restraint of trade,7
and unfair trade practices provisions of the "Unfair Practices Act", article8
2 of title 6, or the "Colorado State Antitrust Act of 2023", PART 1 OF9
article 4 of title 6.10
SECTION 28. In Colorado Revised Statutes, amend 25-17-101611
as follows:12
25-17-1016. Antitrust.13
If a battery stewardship organization engages in an activity14
performed solely in furtherance of implementing an approved plan in15
compliance with this part 10, the activity is not a violation of the antitrust,16
restraint of trade, and unfair trade practices provisions of the "Unfair17
Practices Act", article 2 of title 6, or the "Colorado State Antitrust Act of18
2023", PART 1 OF article 4 of title 6.19
SECTION 29. In Colorado Revised Statutes, 40-3-104.3, amend20
(1)(a)(II)(D) as follows:21
40-3-104.3. Manner of regulation - competitive responses -22
economic development rate - definitions - repeal.23
(1) (a) Upon application by any public utility providing electric,24
natural gas, or steam service, the commission shall authorize such public25
utility to provide utility services to a specific customer or potential26
customer by contract without reference to its tariffs on file with the27
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commission if the commission finds that:1
(II) For contracts with existing customers involving natural gas2
service:3
(D) The price of any such service provided pursuant to this4
subparagraph (II) SUBSECTION (1)(a)(II) shall be justified and shall not be5
less than the marginal cost of the service to the public utility. If the price6
is less than marginal cost, this shall be deemed to be an illegal restraint7
of trade subject to the provisions of PART 1 OF article 4 of title 6; C.R.S.;8
and9
SECTION 30. In Colorado Revised Statutes, amend 40-15-10610
as follows:11
40-15-106. Cross-subsidization prohibited - illegal restraint of12
trade.13
The price of telecommunications services or products which THAT14
are not subject to the jurisdiction of the commission shall not be priced15
below cost by use of subsidization from customers of services and16
products subject to the jurisdiction of the commission, and any such17
cross-subsidization is deemed to be an illegal restraint of trade subject to18
the provisions of PART 1 OF article 4 of title 6. C.R.S.19
SECTION 31. Effective date - applicability. (1) Except as20
otherwise provided in this section, this act takes effect upon passage.21
(2) Part 3 of article 4 of title 6, Colorado Revised Statutes, as22
enacted in section 1 of this act, takes effect November 1, 2026.23
(3) Section 6-4-302, Colorado Revised Statutes, as enacted in24
section 1 of this act, applies to material change transactions in which an25
offer is made on or after November 1, 2026.26
SECTION 32. Safety clause. The general assembly finds,27
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determines, and declares that this act is necessary for the immediate1
preservation of the public peace, health, or safety or for appropriations for2
the support and maintenance of the departments of the state and state3
institutions.4
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