Date: 02/26/2014

Final
BILL SUMMARY for SB14-106

HOUSE COMMITTEE ON LOCAL GOVERNMENT

Votes: View--> Action Taken:
Refer Senate Bill 14-106 to the Committee on ApproPASS



01:46 PM -- SB14-106

Representative Gerou, sponsor, presented and summarized Senate Bill 14-106 concerning the appropriation of federal mineral lease moneys from the Local Government Permanent Fund to the Department of Local Affairs (DOLA). Under current law, 50 percent of bonus payments received from federal land leases are credited to the state Mineral Leasing Fund and are eventually transferred to the Local Government Permanent Fund (permanent fund). The General Assembly may appropriate money in the current fiscal year from the permanent fund to the DOLA for distribution to local governments; however, this may only occur if the March revenue forecast published by Legislative Council Staff indicates that the amount of money deposited into the Mineral Leasing Fund in the current fiscal year is anticipated to be at least 10 percent less than the amount deposited in the preceding fiscal year. This bill, recommended by the Joint Budget Committee, changes the timeline to allow the General Assembly to make appropriations from the permanent fund to DOLA in the current or next fiscal year, and bases the anticipated amount of money in the Mineral Leasing Fund on the December, rather than the March, Legislative Council Staff revenue forecast.

Representative Gerou answered questions from the committee regarding the bill's fiscal note.

01:53 PM -- Bruce Eisenhauer, Deputy Director, Department of Local Affairs, spoke in favor of the bill. He discussed the appropriation as discussed in the bill's fiscal note.

01:55 PM -- Dianna Orf, Associated Governments of Northwest Colorado, spoke in favor of the bill.
BILL:SB14-106
TIME: 01:55:55 PM
MOVED:Vigil
MOTION:Refer Senate Bill 14-106 to the Committee on Appropriations. The motion passed on a vote of 12-0.
SECONDED:Garcia
VOTE
Dore
Excused
Exum
Yes
Garcia
Yes
Gardner
Yes
Landgraf
Yes
Lebsock
Yes
Navarro
Yes
Rankin
Yes
Rosenthal
Yes
Vigil
Yes
Wright
Yes
Singer
Yes
Fields
Yes
FINAL YES: 12 NO: 0 EXC: 1 ABS: 0 FINAL ACTION: PASS



11:57 AM

The committee adjourned.