Page 1
June 23, 2023 HB 23-1004
Legislative Council Staff
Nonpartisan Services for Colorado’s Legislature
Final Fiscal Note
Drafting Number:
Prime Sponsors:
LLS 23-0544
Rep. Velasco
Sen. Gonzales
Date:
Bill Status:
Fiscal Analyst:
June 23, 2023
Signed into Law
Matt Bishop | 303-866-4796
matt.bishop@coleg.gov
Bill Topic: LANGUAGE ACCESS IN INSURANCE DOCUMENTS
Summary of
Fiscal Impact:
☐ State Revenue
☒ State Expenditure
☐ State Diversion
☐ TABOR Refund
☐ Local Government
☐ Statutory Public Entity
The bill adds foreign language requirements for certain insurance policies beginning
in 2024. It increases state workload beginning in FY 2023-24.
Appropriation
Summary:
No appropriation is required.
Fiscal Note
Status:
The fiscal note reflects the enacted bill.
Summary of Legislation
The bill requires an insurer that issues a non-English policy to certify that the policy has been correctly
translated by a certified or qualified translator who has also certified that the policy was correctly
translated. The bill also requires insurers to offer certain insurance policy documents in any language
in which the insurer advertises the policy, and to offer a form that allows an applicant to select their
language of choice for those policy documents. If an insurer fails to comply with these requirements,
the policy is voidable.
State Expenditures
The bill increases workload in the Department of Regulatory Agencies’ Division of Insurance to
update regulations and review form filings to confirm that the required certifications are included.
This can be accommodated within existing appropriations.
Effective Date
The bill was signed into law by the Governor on April 11, 2023, and takes effect January 1, 2024,
assuming no referendum petition is filed.
State and Local Government Contacts
Information Technology Regulatory Agencies
The revenue and expenditure impacts in this fiscal note represent changes from current law under the bill for each
fiscal year. For additional information about fiscal notes, please visit: leg.colorado.gov/fiscalnotes.