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HB21-1196

Update Senate Bill 19-263 Effective Date Clause

Concerning the updating of the effective date clause of Senate Bill 19-263, as amended by Senate Bill 20-152, for the purpose of ensuring that the bill accomplishes its intended legal effect of eliminating the requirement that the state treasurer execute lease-purchase agreements to fund transportation projects during the 2021-22 state fiscal year if a referred ballot issue that authorizes the state to issue transportation revenue anticipation notes is approved at the November 2021 statewide election.
Session:
2021 Regular Session
Subjects:
State Government
Transportation & Motor Vehicles
Bill Summary



In 2017, the general assembly (GA) enacted Senate Bill 17-267, which required the state treasurer to issue up to $500 million of lease-purchase agreements (COPS) in each of the 2018-19, 2019-20, 2020-21, and 2021-22 state fiscal years for the purpose of funding transportation projects. Subsequently, in a series of 4 bills, the GA referred a statewide ballot issue, initially at the November 2019 statewide election but thereafter twice modified and delayed until the 2021 statewide election, that, if approved, would have authorized the state to issue transportation revenue anticipation notes (TRANs) for the purpose of funding transportation projects and prevented the issuance of the state fiscal year 2021-22 COPS.

The GA intended that, upon approval of the ballot issue, the TRANs authorized would replace the unissued COPS as a source of funding for transportation projects. The act amends the effective date clause of one of the 4 bills to prevent the unintended consequence, resulting from the interplay of the bill with another one of the 4 bills, that TRANs could be authorized without preventing the issuance of the state fiscal year 2021-22 COPS. However, the act has no practical effect because Senate Bill 21-260 repealed the requirement that a statewide ballot issue seeking authorization for the issuance of TRANS be referred to the voters at the 2021 statewide election.

(Note: This summary applies to this bill as enacted.)

Status

Introduced
Passed
Did Not Become Law

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Bill Text

  • All Versions (7 )
    Date Bill Type Documents
    07/02/2021 Signed Act PDF
    06/18/2021 Final Act PDF
    06/04/2021 Rerevised PDF
    06/03/2021 Revised PDF
    06/02/2021 Reengrossed PDF
    06/01/2021 Engrossed PDF
    03/04/2021 Introduced PDF
COVID-19 Resources
2021 Ballot Information Booklet (Blue Book)
NORTH ENTRANCE IS CURRENTLY CLOSED.  TO ENTER THE CAPITOL, USE THE SOUTH ENTRANCE, UNDER THE STAIRS, AT 14th AVENUE AND SHERMAN STREET.