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I_PensionRevew_2022A 09/27/2022 09:13:37 AM Committee Summary

PUBLIC
STAFF SUMMARY OF MEETING
INTERIM COMMITTEE  PENSION REVIEW COMMISSION
Date 09/27/2022
Attendance
Danielson X
Exum X
Hansen X
Hisey X
Sandridge X
Sirota X
Van Winkle E
Will X
Bird X
Kolker X
Time 09:13:37 AM to 10:24:52 AM
Place HCR 0112
This Meeting was called to order by Kolker
This Report was prepared by Katie Ruedebusch
Hearing Items Action Taken
Review and Discussion of Bill Draft Requests Committee Discussion Only
Public Testimony Committee Discussion Only
Vote on Bill Draft Requests Committee Discussion Only

Review and Discussion of Bill Draft Requests - Committee Discussion Only


09:13:52 AM  
Nicole Myers and
Jessica Herrera came to the table to discuss the draft bills before the
commission.  Ms. Herrera discussed Bill 1.  Bill drafts may be
found here:  
https://leg.colorado.gov/content/ipensionrevew2022a
 
09:16:58 AM  
Commission discussion
ensued on Bill 1.  The commission discussed further study for the
Subcommittee and sending a letter to PERA and FFPA on passive investments.
09:24:35 AM  
Ms. Herrera continued by discussing Bill 2.
09:30:48 AM  
Ms. Myers continued
by discussing Bill 3. Sen. Kolker withdrew Bill 3.



Public Testimony - Committee Discussion Only


09:34:36 AM  
Written public testimony may be found in Attachment A.



Vote on Bill Draft Requests - Committee Discussion Only


09:34:51 AM  
The commission began
discussing Bill 1 and Bill 2.


09:45:47 AM
Motion Move Bill 1 to Legislative Council
Moved Sirota
Seconded
Danielson Yes
Exum Yes
Hansen No
Hisey No
Sandridge No
Sirota Yes
Van Winkle Excused
Will Yes
Bird No
Kolker Yes
YES: 5   NO: 4   EXC: 1   ABS:  0   FINAL ACTION:  FAIL
09:50:26 AM  
Bill 1 failed as
it did not receive a majority vote of the total commission members. Commission
discussion ensued on some conceptual amendments.



10:00:43 AM
Motion Move conceptual amendment to Bill 2 to limit the bill to Colorado state and local government public pensions
Moved Hansen
Seconded
Danielson Yes
Exum Yes
Hansen Yes
Hisey Yes
Sandridge Yes
Sirota Yes
Van Winkle Excused
Will Yes
Bird Yes
Kolker Yes
YES: 9   NO: 0   EXC: 1   ABS:  0   FINAL ACTION:  PASS


10:18:33 AM
Motion Move conceptual amendment to Bill 2 to include in the bill a tax credit for tax years 2023 and 2024 for a set amount.
Moved Bird
Seconded
Danielson Yes
Exum Yes
Hansen Yes
Hisey Yes
Sandridge Yes
Sirota Yes
Van Winkle Excused
Will Yes
Bird Yes
Kolker Yes
YES: 9   NO: 0   EXC: 1   ABS:  0   FINAL ACTION:  PASS


10:19:39 AM
Motion Move Bill 2 as amended to Legislative Council
Moved Bird
Seconded
Danielson Yes
Exum Yes
Hansen Yes
Hisey Yes
Sandridge Yes
Sirota Yes
Van Winkle Excused
Will Yes
Bird Yes
Kolker Yes
YES: 9   NO: 0   EXC: 1   ABS:  0   FINAL ACTION:  PASS


10:24:52 AM   The committee adjourned.