Creates the Colorado health care authority (authority) as a body corporate and political subdivision of the state. Establishes the mission of the authority, which is to create a health care system in Colorado that is the administrator and payer for health care services.

Requires the authority to create a system to recommend to the general assembly that provides comprehensive medical benefits to Coloradans. Requires the appointment of a board of directors (board) to create and develop the health care system. In creating and developing the system, requires the board to consider specific requirements and analyses.

Specifies comprehensive medical benefits to be included in the system. Establishes a fund consisting of any general fund moneys appropriated by the general assembly.

Requires the executive director of the board to seek all necessary waivers, exemptions, and agreements from the federal government to ensure consistent levels of funding if the system is implemented by bill of the general assembly.

Prohibits the implementation of the creation and development of the system if the board does not raise sufficient gifts, grants, and donations by July 1, 2011, to fund its activities. Prohibits the implementation of the system until all necessary waivers, exemptions, and
agreements are in place; the board certifies that the board has received sufficient funding; and the general assembly acts by bill to implement the system.