J_CDC_2021A 02/11/2021 08:38:44 AM Committee Summary

PUBLIC
STAFF SUMMARY OF MEETING
JOINT COMMITTEE COMMITTEE ON CAPITAL DEVELOPMENT COMMITTEE

Date

02/11/2021

Attendance
Fields	*
Rich	X
Sonnenberg	X
Valdez A.	X
Story	X
Hooton	X

Time

08:38:44 AM to 09:56:48 AM

Place

HCR 0112

This Meeting was called to order by

Hooton

This Report was prepared by

Bo Pogue

Hearing Items	Action Taken
hSB 219	Committee Discussion Only
hPrioritization of FY 2021-22 Capital Budget Requests	Committee Discussion Only

SB 219 - Committee Discussion Only

08:39:02 AM

Ms. Esther van Mourik,
Office of Legislative Legal Services, explained a potential ambiguity in
Senate Bill 20-219 regarding the use of any premium from the issuance of
the certificates of participation (COPs). Dave Young, State Treasurer,
provided background on the amount to be realized from the COP issuance,
and provided options on how any premium might be used. Discussion
ensued on the timing of the COP issuance and the need for legislation to
address any ambiguities in Senate Bill 20-219. Cheri Gerou, State
Architect, provided input on the balance of the Emergency Controlled Maintenance
Account, and the requirements of Senate Bill 20-219 with respect to the
premium and this account. Treasurer Young discussed some requirements
in federal law pertaining to the payments.

08:59:21 AM

Ms. van Mourik summarized
what the decision items are with respect to the Senate Bill 20-219 premium.
Discussion ensued about paying the COPs down. Eric Rothaus, Deputy
State Treasurer, provided input on the impact of issuing a smaller COP
package, thus reducing COP payments going forward. Discussion ensued
on policy decisions. Mr. Rothaus responded to questions regarding
the three-year spending requirement for spending the COP proceeds.

09:17:58 AM	Motion	Request additional premium and draft bill
	Moved	Story
	Seconded

	Fields	Yes
	Rich	No
	Sonnenberg	No
	Valdez A.	Yes
	Story	Yes
	Hooton	Yes
		YES: 4 NO: 2 EXC: 0 ABS: 0 FINAL ACTION: PASS

09:19:01 AM

Discussion ensued
about the timing of receiving the Senate Bill 20-219 COP proceeds.

Prioritization of FY 2021-22 Capital Budget Requests - Committee Discussion Only

Attachment Tag

File Name

Attachment

Attachment A.pdf

09:21:17 AM

The committee discussed
their prioritization rationale for the FY 21-22 capital budget requests.
The committee's recommended list is included as Attachment A.

09:25:09 AM

Senator Sonnenberg
discussed certain projects that were requested for funding in FY 2020-21
but were not requested for FY 2021-22, and the disposition of certain projects
that were not funded in FY 2020-21. Discussion ensued regarding the
rationale behind the committee's reprioritizing the Office of State Planning
and Budgeting's FY 2021-22 capital construction priorities, and the reasoning
behind creating two tiers of recommended funding.

09:42:21 AM	Motion	Approve state-funded CDC prioritized list
	Moved	Sonnenberg
	Seconded

	Fields	Yes
	Rich	Yes
	Sonnenberg	Yes
	Valdez A.	Yes
	Story	Yes
	Hooton	Yes
		YES: 6 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: PASS

09:42:22 AM

Senator Sonnenberg
discussed his objection to approving the Parks and Wildlife, Property Acquisitions
and Approvements line item (line 3) within the cash-funded recommendations.

09:45:18 AM

The committee recessed.

09:52:40 AM

The committee returned to order.

09:53:28 AM	Motion	Approve only lines 1, 2, and 4 from the CDC prioritized cash list
	Moved	Sonnenberg
	Seconded

	Fields	Yes
	Rich	Yes
	Sonnenberg	Yes
	Valdez A.	No
	Story	No
	Hooton	No
		YES: 3 NO: 3 EXC: 0 ABS: 0 FINAL ACTION: FAIL

09:54:09 AM	Motion	Approve the CDC prioritized cash list
	Moved	Valdez A.
	Seconded

	Fields	Yes
	Rich	No
	Sonnenberg	No
	Valdez A.	Yes
	Story	Yes
	Hooton	Yes
		YES: 4 NO: 2 EXC: 0 ABS: 0 FINAL ACTION: PASS

09:56:48 AM

The committee adjourned.

SB 219 - Committee Discussion Only

Prioritization of FY 2021-22 Capital Budget Requests - Committee Discussion Only

Colorado General Assembly