Interesting use case, and thank you TamBam.
Let me see if I can frame this better than my original post and see if I understand what you are suggesting.
In this example, let us say we have a square block that can be moved around. There is a field of other Sprites on the screen that are stationary and cannot be moved.
Using the mouse (or touch surface) we can move the box through the field of stationary objects, so the box is already attached to the mouse pointer or touch.
This was the context that was missing from my initial question. GetSpriteHit, will return the ID of the Sprite that is actively being moved around (which is fine). With the number of views to this thread and lack of replies I suspect there is no function that triggers when items collide (or contact, I see the term is confusingly interchangeable). I can "Check" to see if Sprites collide by supplying their IDs. I Can check to see what Sprite is actively being touched with the mouse or touch event (and even limit that with GetSpriteHitCategory), but there is no built in function that stores the ID or IDs of any sprite involved in a recent collision (natively).
Ultimately I wrote my own function that loops through the array of all available stationary sprites and checks them against my sprite that is in movement, and returns the ID of the closest sprite using GetSpriteDistance() as well as the last collision GetSpriteCollision().
I could be wrong as I have not had a chance to read through the documentation at length, but the above method is likely the only solution (Looping through available Sprites).