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h_fin_2016a_2016-05-05t10:57:00z2 Hearing Summary

Date: 05/05/2016



Final

BILL SUMMARY for SB16-035



HOUSE COMMITTEE ON FINANCE


Votes: View--> Action Taken:
Refer Senate Bill 16-035 to the Committee on Appro PASS







12:02 PM -- SB16-035



Representatives Rankin and Young, co-prime sponsors, introduced Senate Bill 16-035. The bill, as amended by the Senate State, Veterans, and Military Affairs Committee, creates the Public School Fund Investment Board (board) to oversee investment of the Public School Fund and broadens the allowable investment options for the fund. The board is charged with establishing policies concerning allowable investments of the fund and the distribution of income and interest earnings. The bill allows the board to hire a private fund manager to advise it about fund investments.



12:09 PM -- Mr. Bill Ryan, representing the Colorado State Land Board, testified in support of the bill. He answered several committee questions.



12:14 PM -- Mr. Jonathan Forbes, representing the Colorado Department of the Treasury, testified in support of the bill. He answered several committee questions.



12:18 PM -- Ms. Michelle Murphy, representing the Colorado Rural School Alliance and Colorado Association of School Executives, testified in support of the bill.

BILL: SB16-035
TIME: 12:19:30 PM
MOVED: Court
MOTION: Refer Senate Bill 16-035 to the Committee on Appropriations. The motion passed on a vote of 9-0.
SECONDED: Roupe
VOTE
Becker K.
Yes
Conti
Excused
Garnett
Yes
Moreno
Excused
Pabon
Yes
Roupe
Yes
Sias
Yes
Van Winkle
Yes
Wilson
Yes
Foote
Yes
Court
Yes
Final YES: 9 NO: 0 EXC: 2 ABS: 0 FINAL ACTION: PASS














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