s_fin_2016a_2016-02-11t09:52:46z1 Hearing Summary
Date: 02/11/2016
Final
BILL SUMMARY for SB16-121
SENATE COMMITTEE ON FINANCE
| Votes: View--> | Action Taken: |
| Adopt amendment L.002 (Attachment D). The motion p Refer Senate Bill 16-121, as amended, to the Commi |
PASS PASS |
10:16 AM -- SB16-121
The committee recessed.
10:18 AM
Senator Tate, prime sponsor, presented Senate Bill 16-121, which bill allows the governing board of a higher education institution or institutions to pledge up to 100 percent of tuition revenues, excluding any General Fund appropriations, when it issues bonds to pay the costs of a capital project. Institutions that participate in the Higher Education Revenue Bond Intercept Program (intercept program) are only allowed to pledge up to 10 percent of tuition revenues, which is the amount permitted in current law. Senator Tate distributed and read a letter of support from the State Treasurer (Attachment C).
16SenateFin0211AttachC.pdf
10:21 AM -- Regent Steve Bosley and Mr. Dan Wilson, Treasurer, both representing the University of Colorado System (CU), testified in support of the bill. Mr. Wilson addressed a question from the committee about why CU does not participate in the intercept program. Discussion ensued about the difference between two existing 10 percent limits in current law related to borrowing.
10:34 AM
Senator Tate made some closing remarks on the bill. He distributed and explained Amendment L.002 (Attachment D).
16SenateFin0211AttachD.pdf
| BILL: | SB16-121 | |
| TIME: | 10:35:16 AM | |
| MOVED: | Holbert | |
| MOTION: | Adopt amendment L.002 (Attachment D). The motion passed on a vote of 3-2. | |
| SECONDED: | ||
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VOTE
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Holbert
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Yes
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Johnston
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Yes
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Kerr
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No
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Hill
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No
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Neville T.
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Yes
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YES: 3 NO: 2 EXC: 0 ABS: 0 FINAL ACTION: PASS
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| BILL: | SB16-121 | |
| TIME: | 10:39:22 AM | |
| MOVED: | Kerr | |
| MOTION: | Refer Senate Bill 16-121, as amended, to the Committee of the Whole. The motion passed on a vote of 5-0. | |
| SECONDED: | ||
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VOTE
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Holbert
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Yes
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Johnston
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Yes
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Kerr
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Yes
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Hill
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Yes
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Neville T.
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Yes
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Final YES: 5 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: PASS
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10:40 AM
The committee adjourned.