Skip to main content
Colorado General AssemblyToggle Main Menu
Agency NameToggle Agency Menu

s_sa_2016a_2016-03-28t13:35:43z4 Hearing Summary

Date: 03/28/2016



Final

BILL SUMMARY for SB16-035



SENATE COMMITTEE ON STATE, VETERANS, & MILITARY AFFAIRS


Votes: View--> Action Taken:
Adopt amendment L.008 (Attachment B). The motion p

Refer Senate Bill 16-035, as amended, to the Commi
PASS

PASS







04:57 PM -- SB16-035



Senator Johnston, co-prime sponsor, presented Senate Bill 16-035. The bill creates the Public School Fund Investment Board (board) to oversee investment of the Public School Fund (or Permanent 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.



Under current law, the first $21 million in interest earned from investments on the Permanent Fund is used to pay costs of K-12 education through the annual School Finance Act.



Amendment L.008 (Attachment B), which strikes everything below the enacting clause, was distributed to the committee.



16SenateState0328AttachB.pdf16SenateState0328AttachB.pdf



04:59 PM --
Tobin Follenweider, representing the State Land Board, testified in support of the bill.



05:01 PM --
Jon Forbes, Deputy Treasurer, testified in support of the bill.





05:04 PM



The committee discussed the bill with Senator Johnston.

BILL: SB16-035
TIME: 05:07:07 PM
MOVED: Cooke
MOTION: Adopt amendment L.008 (Attachment B). The motion passed on a vote of 3-1, with 1 excused.
SECONDED:
VOTE
Hill
Excused
Jones
No
Ulibarri
Yes
Sonnenberg
Yes
Cooke
Yes
YES: 3 NO: 1 EXC: 1 ABS: 0 FINAL ACTION: PASS




BILL: SB16-035
TIME: 05:08:11 PM
MOVED: Cooke
MOTION: Refer Senate Bill 16-035, as amended, to the Committee on The motion passed on a vote of 3-1, with 1 excused.
SECONDED:
VOTE
Hill
Excused
Jones
No
Ulibarri
Yes
Sonnenberg
Yes
Cooke
Yes
Final YES: 3 NO: 1 EXC: 1 ABS: 0 FINAL ACTION: PASS







05:09 PM



The committee adjourned.




COVID-19 Resources
2021 Ballot Information Booklet (Blue Book)
NORTH ENTRANCE IS CURRENTLY CLOSED.  TO ENTER THE CAPITOL, USE THE SOUTH ENTRANCE, UNDER THE STAIRS, AT 14th AVENUE AND SHERMAN STREET.