Date: 02/21/2013

Final
BILL SUMMARY for HB13-1205

HOUSE COMMITTEE ON FINANCE

Votes: View--> Action Taken:
Moved Amendment L.002 (Attachment C). The motion p
Refer House Bill 13-1205, as amended, to the Commi		Pass Without Objection
PASS



11:31 AM -- House Bill 13-1205 - Concerning Investments by the State Treasurer

Representative Swalm and Representative Pabon, prime sponsors, explained the provisions of the bill. Representative Pabon began by saying that House Bill 13-1205 gives the state treasurer additional flexibility in investing state moneys by allowing the treasurer to exchange or sell an investment at a loss of principal to the public school fund so long as the loss is offset by a gain in the fund within 12 months, invest in securities denominated in U.S. dollars, rather than only in "domestic securities" under current law, and invest in municipal bonds rated in one of the two highest ratings by a nationally recognized rating organization.

The following person testified:

11:41 AM -- Mr. Brett Johnson, Deputy Treasurer, responded to questions about the bill and the bond ratings for certain state investments. Mr. Johnson discussed the backfill requirement under state law that relates to the School Finance Act.
BILL:HB13-1205
TIME: 11:47:30 AM
MOVED:Pabon
MOTION:Moved Amendment L.002 (Attachment C). The motion passed without objection.

13HseFin0221AttachC.pdf13HseFin0221AttachC.pdf
SECONDED:Swalm
VOTE
DelGrosso
Foote
Joshi
Kagan
May
Melton
Pabon
Priola
Saine
Swalm
Wilson
Labuda
Court
YES: 0 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: Pass Without Objection


BILL:HB13-1205
TIME: 11:47:53 AM
MOVED:Swalm
MOTION:Refer House Bill 13-1205, as amended, to the Committee of the Whole. The motion passed on a vote of 13-0.
SECONDED:Pabon
VOTE
DelGrosso
Yes
Foote
Yes
Joshi
Yes
Kagan
Yes
May
Yes
Melton
Yes
Pabon
Yes
Priola
Yes
Saine
Yes
Swalm
Yes
Wilson
Yes
Labuda
Yes
Court
Yes
Final YES: 13 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: PASS



11:48 AM

The committee adjourned.