h_fin_2016a_2016-02-24t13:36:00z0 Hearing Summary

Date: 02/24/2016

Representative Court, chair, called the meeting to order. A quorum was present.



01:36 PM -- HB16-1207



Representative Rosenthal, prime sponsor, introduced House Bill 16-1207. The bill requires that the Public Employees' Retirement Association (PERA) ensure that one percent of future investments be in renewable energy companies. Beginning in January 1, 2017, and each year thereafter, PERA must ensure that one percent of the moneys not already invested by the association in the coming year will be invested in renewable energy companies. If PERA is unable to invest in one percent, the association must explain why it was unable to satisfy this requirement in their comprehensive annual financial report. Rep. Rosenthal distributed a handout to the committee (Attachment A).



16HouseFin0224AttachA.pdf



01:54 PM -- Mr. Greg Smith, representing PERA, came to the table to testify against the bill. He answered several committee questions regarding PERA's portfolio. Committee discussion ensued regarding PERA and its investments.



02:16 PM -- Mr. Davio DiCarlo, representing himself, came to the table to testify against the bill.