S_FIN_2020A 01/16/2020 09:36:50 AM Committee Summary PUBLICSTAFF SUMMARY OF MEETINGJOINT COMMITTEE COMMITTEE ON JOINT FINANCE Date 01/16/2020 Attendance Beckman E Benavidez X Bird X Bockenfeld E Gonzales X Gray E Kraft-Tharp E Lee X Lundeen E Rich X Sandridge X Snyder E Sullivan X Tate X Todd X Woodward X Herod X Court E Time 09:36:50 AM to 12:43:28 PM Place Old Supreme Court Chamber This Meeting was called to order by Representative Herod This Report was prepared by Vanessa Reilly Hearing Items Action Taken hIntroduction of Nonpartisan Fiscal Note and Joint Budget Committee Staff Committee Discussion Only hPresentation from Office of the State Auditor Committee Discussion Only hDepartment of Revenue SMART Act Hearing Committee Discussion Only hDepartment of the Treasury SMART Act Hearing Committee Discussion Only hPublic Employees' Retirement Association SMART Act Hearing Committee Discussion Only hPublic Testimony Committee Discussion Only X = Present, E = Excused, A = Absent, * = Present after roll call Introduction of Nonpartisan Fiscal Note and Joint Budget Committee Staff - Committee Discussion Only 09:37:03 AM Kate Watkins, representing Legislative Council Staff, introduced the fiscal note and economics staff. 09:40:10 AM Scott Thompson, representing Joint Budget Committee Staff, described the JBC process. Presentation from Office of the State Auditor - Committee Discussion Only Attachment Tag File Name Attachment http://www2.leg.state.co.us/CLICS/CLICS2020A/commsumm.nsf/0/87E5FFC4BBAA...$File/200116 AttachA.pdf?OpenElement 200116 AttachA.pdf Attachment http://www2.leg.state.co.us/CLICS/CLICS2020A/commsumm.nsf/0/A1A6EE115558...$File/200116 AttachB.pdf?OpenElement 200116 AttachB.pdf 09:42:04 AM Kerry Hunter and Vicki Heller, representing the Office of the State Auditor, updated the committee on audits performed for the departments overseen by the committee, and distributed twohandouts (Attachments A and B). 09:43:55 AM Ms. Heller described the audit of the Treasury Department. Department of Revenue SMART Act Hearing - Committee Discussion Only 09:56:10 AM Lu Cordova, Executive Director, Heidi Humphreys, Jean Robinson, and Lori Duggan, representing the Department of Revenue presented the department's SMART Act briefing to the committee. 10:02:42 AM Ms. Cordova and Ms. Humphreys responded to committee members' questions. 10:54:32 AM Ms. Duggan described the department's regulatory and legislative agendas. Department of the Treasury SMART Act Hearing - Committee Discussion Only Attachment Tag File Name Attachment http://www2.leg.state.co.us/CLICS/CLICS2020A/commsumm.nsf/0/AEB2CBAA5C72...$File/200116 AttachC.pdf?OpenElement 200116 AttachC.pdf 11:20:25 AM The committee took a brief recess. 11:28:05 AM The committee reconvened. 11:28:14 AM Dave Young, State Treasurer, presented the SMART Act briefing for the Department of the Treasury, along with a handout (Attachment C). 11:28:53 AM Treasurer Young continued the presentation by dicussing the department's regulatory agenda. He further discussed the department's legislative agenda. Public Employees' Retirement Association SMART Act Hearing - Committee Discussion Only Attachment Tag File Name Attachment http://www2.leg.state.co.us/CLICS/CLICS2020A/commsumm.nsf/0/86387277BEF5...$File/200116 AttachD.pdf?OpenElement 200116 AttachD.pdf 12:09:56 PM Tim O'Brien, Ron Baker, and Amy McGarrity, representing the Public Employees' Retirement Association (PERA), presented PERA's SMART Act briefing to the committee, along with a handout (Attachment D). Public Testimony - Committee Discussion Only 12:42:59 PM No public testimony was received. 12:43:28 PM The committee adjourned.