h_fin_2016a_2016-05-04t13:50:00z2 Hearing Summary

Date: 05/04/2016

02:12 PM -- HB16-1459



Representatives Becker, K. and Brown, co-prime sponsors, introduced House Bill 16-1459. 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. The 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.



02:18 PM -- Mr. Rich Schweigert, representing the Colorado State University System, testified in support of the bill. He answered several committee questions.



02:21 PM -- Ms. Teresa Osborne, representing the University of Colorado System, testified in support of the bill. She answered several committee questions.





02:30 PM



Committee discussion with the witnesses and sponsors ensued.