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

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
hReview and Discussion of Bill Draft Requests	Committee Discussion Only
hPublic Testimony	Committee Discussion Only
hVote 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.

Attachment Tag

File Name

Attachment A

09:34:36 AM

Written public testimony may be found in Attachment A.

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.