I_PensionRevew_2022A 09/27/2022 09:13:37 AM Committee Summary PUBLICSTAFF SUMMARY OF MEETINGINTERIM COMMITTEE PENSION REVIEW COMMISSION Date 09/27/2022 Attendance Danielson X Exum X Hansen X Hisey X Sandridge X Sirota X Van Winkle E Will X Bird X Kolker X Time 09:13:37 AM to 10:24:52 AM Place HCR 0112 This Meeting was called to order by Kolker This Report was prepared by Katie Ruedebusch Hearing Items Action Taken hReview and Discussion of Bill Draft Requests Committee Discussion Only hPublic Testimony Committee Discussion Only hVote on Bill Draft Requests Committee Discussion Only Review and Discussion of Bill Draft Requests - Committee Discussion Only 09:13:52 AM Nicole Myers and Jessica Herrera came to the table to discuss the draft bills before the commission. Ms. Herrera discussed Bill 1. Bill drafts may be found here: https://leg.colorado.gov/content/ipensionrevew2022a 09:16:58 AM Commission discussion ensued on Bill 1. The commission discussed further study for the Subcommittee and sending a letter to PERA and FFPA on passive investments. 09:24:35 AM Ms. Herrera continued by discussing Bill 2. 09:30:48 AM Ms. Myers continued by discussing Bill 3. Sen. Kolker withdrew Bill 3. Public Testimony - Committee Discussion Only Attachment Tag File Name Attachment A http://www2.leg.state.co.us/CLICS/CLICS2022A/commsumm.nsf/0/6BB038D7A4A1...$File/Attachment A.pdf?OpenElement Attachment A.pdf 09:34:36 AM Written public testimony may be found in Attachment A. Vote on Bill Draft Requests - Committee Discussion Only 09:34:51 AM The commission began discussing Bill 1 and Bill 2. 09:45:47 AM Motion Move Bill 1 to Legislative Council Moved Sirota Seconded Danielson Yes Exum Yes Hansen No Hisey No Sandridge No Sirota Yes Van Winkle Excused Will Yes Bird No Kolker Yes YES: 5 NO: 4 EXC: 1 ABS: 0 FINAL ACTION: FAIL 09:50:26 AM Bill 1 failed as it did not receive a majority vote of the total commission members. Commission discussion ensued on some conceptual amendments. 10:00:43 AM Motion Move conceptual amendment to Bill 2 to limit the bill to Colorado state and local government public pensions Moved Hansen Seconded Danielson Yes Exum Yes Hansen Yes Hisey Yes Sandridge Yes Sirota Yes Van Winkle Excused Will Yes Bird Yes Kolker Yes YES: 9 NO: 0 EXC: 1 ABS: 0 FINAL ACTION: PASS 10:18:33 AM Motion Move conceptual amendment to Bill 2 to include in the bill a tax credit for tax years 2023 and 2024 for a set amount. Moved Bird Seconded Danielson Yes Exum Yes Hansen Yes Hisey Yes Sandridge Yes Sirota Yes Van Winkle Excused Will Yes Bird Yes Kolker Yes YES: 9 NO: 0 EXC: 1 ABS: 0 FINAL ACTION: PASS 10:19:39 AM Motion Move Bill 2 as amended to Legislative Council Moved Bird Seconded Danielson Yes Exum Yes Hansen Yes Hisey Yes Sandridge Yes Sirota Yes Van Winkle Excused Will Yes Bird Yes Kolker Yes YES: 9 NO: 0 EXC: 1 ABS: 0 FINAL ACTION: PASS 10:24:52 AM The committee adjourned.