BILL SUMMARY for HB16-1459
SENATE COMMITTEE ON STATE, VETERANS, & MILITARY AFFAIRS
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12:55 PM -- HB16-1459
Senator Sonnenberg presented House Bill 16-1459 to the committee. Under current law, higher education institutions may submit lists of capital construction projects anticipated to be commenced within the next two years using institutional cash funds, and costing more than $2 million, to the Capital Development Committee (CDC) for review and approval. Any project listed and reviewed by the CDC as part of an institution's two-year projection of cash need may commence without further legislative review, with certain exceptions related to borrowing. This bill, recommended by the CDC, increases the threshold for projects reviewed through two-year cash lists from $2 million to $10 million for everything but acquisitions, new construction, and projects financed using the state's credit rating.
The bill was laid over for action later in the meeting.