Date: 02/11/2016
Location: LSB B

Votes: View-->	Action Taken:
Adopt amendment L.002 (Attachment D). The motion p Refer Senate Bill 16-121, as amended, to the Commi	PASS PASS

10:16 AM -- SB16-121

The committee recessed.


10:18 AM

Senator Tate, prime sponsor, presented Senate Bill 16-121, which bill allows the governing board of a higher education institution or institutions to pledge up to 100 percent of tuition revenues, excluding any General Fund appropriations, when it issues bonds to pay the costs of a capital project. Institutions that participate in the Higher Education Revenue Bond Intercept Program (intercept program) are only allowed to pledge up to 10 percent of tuition revenues, which is the amount permitted in current law. Senator Tate distributed and read a letter of support from the State Treasurer (Attachment C).

16SenateFin0211AttachC.pdf

10:21 AM -- Regent Steve Bosley and Mr. Dan Wilson, Treasurer, both representing the University of Colorado System (CU), testified in support of the bill. Mr. Wilson addressed a question from the committee about why CU does not participate in the intercept program. Discussion ensued about the difference between two existing 10 percent limits in current law related to borrowing.


10:34 AM

Senator Tate made some closing remarks on the bill. He distributed and explained Amendment L.002 (Attachment D).

16SenateFin0211AttachD.pdf

BILL:	SB16-121
TIME:	10:35:16 AM
MOVED:	Holbert
MOTION:	Adopt amendment L.002 (Attachment D). The motion passed on a vote of 3-2.
SECONDED:
		VOTE
	Holbert	Yes
	Johnston	Yes
	Kerr	No
	Hill	No
	Neville T.	Yes
YES: 3 NO: 2 EXC: 0 ABS: 0 FINAL ACTION: PASS

BILL:	SB16-121
TIME:	10:39:22 AM
MOVED:	Kerr
MOTION:	Refer Senate Bill 16-121, as amended, to the Committee of the Whole. The motion passed on a vote of 5-0.
SECONDED:
		VOTE
	Holbert	Yes
	Johnston	Yes
	Kerr	Yes
	Hill	Yes
	Neville T.	Yes
Final YES: 5 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: PASS

10:40 AM

The committee adjourned.