CLICS/CLICS2021A/commsumm.nsf
PUBLIC
BILL SUMMARY For SB 219
JOINT COMMITTEE COMMITTEE ON CAPITAL DEVELOPMENT COMMITTEE
Date Feb 11, 2021
Location HCR 0112
SB 219 - Committee Discussion Only
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08:39:02 AM |
Ms. Esther van Mourik,
Office of Legislative Legal Services, explained a potential ambiguity in
Senate Bill 20-219 regarding the use of any premium from the issuance of
the certificates of participation (COPs). Dave Young, State Treasurer,
provided background on the amount to be realized from the COP issuance,
and provided options on how any premium might be used. Discussion
ensued on the timing of the COP issuance and the need for legislation to
address any ambiguities in Senate Bill 20-219. Cheri Gerou, State
Architect, provided input on the balance of the Emergency Controlled Maintenance
Account, and the requirements of Senate Bill 20-219 with respect to the
premium and this account. Treasurer Young discussed some requirements
in federal law pertaining to the payments.
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08:59:21 AM |
Ms. van Mourik summarized
what the decision items are with respect to the Senate Bill 20-219 premium.
Discussion ensued about paying the COPs down. Eric Rothaus, Deputy
State Treasurer, provided input on the impact of issuing a smaller COP
package, thus reducing COP payments going forward. Discussion ensued
on policy decisions. Mr. Rothaus responded to questions regarding
the three-year spending requirement for spending the COP proceeds.
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09:17:58 AM
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Motion |
Request additional premium and draft bill |
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| Moved |
Story |
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| Seconded |
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Fields |
Yes |
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Rich |
No |
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Sonnenberg |
No |
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Valdez A. |
Yes |
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Story |
Yes |
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Hooton |
Yes |
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YES: 4 NO: 2 EXC: 0 ABS: 0 FINAL ACTION: PASS |
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09:19:01 AM |
Discussion ensued
about the timing of receiving the Senate Bill 20-219 COP proceeds.
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