Date: 05/03/2006

Final
BILL SUMMARY for HB06-1402

SENATE COMMITTEE ON STATE, VETERANS & MILITARY AFFAIRS

Votes: View--> Action Taken:
Move House Bill 06-1402 to the Committee of the Wh
Moved to postpone House Bill 06-1402 indefinitely.		FAIL
PASS



06:49 PM -- House Bill 06-1402

Senator Grossman, prime sponsor, reviewed the provisions of House Bill 06-1402, concerning the securitization of a portion of the right of the state to receive tobacco litigation settlement payments in an amount that allows the state to continue to fund tobacco programs with unsecuritized payments at the levels specified under current law in order to reduce future state budget volatility by paying in full outstanding obligations of the state that would otherwise be paid over multiple fiscal years while providing initial funding for a new budget stabilization fund. Senator Groff asked if other states have implemented programs similar to this measure.

06:56 PM -- State Treasure Mike Coffman testified in support of the bill. He indicated that this measure should be a priority for the state. Further, he believes this measure creates fiscal stability for the state. Senator Windels asked how money would be taken out of this fund that does not have a mechanism to replenish funds. Senator Fitz-Gerald expressed concerns regarding the fiscal position this measure puts the state in.

07:09 PM -- Ed Con, representing the Colorado Center on Law and Policy, testified in opposition to the bill, and distributed a handout (Attachment K) . He spoke to the impact this measure would have on future programs including transportation, health care and education.

07:13 PM -- Janet Stevens, representing the Colorado Health and Hospital Association, testified in opposition to the bill. She spoke to the programs that would be impacted by this measure.

BILL:HB06-1402
TIME: 07:18:05 PM
MOVED:Groff
MOTION:Move House Bill 06-1402 to the Committee of the Whole. The motion failed on a 1-5 roll call vote.
SECONDED:
VOTE
Fitz-Gerald
No
Johnson
No
Lamborn
Excused
May R.
No
Windels
No
Groff
Yes
Tupa
No
Not Final YES: 1 NO: 5 EXC: 1 ABS: 0 FINAL ACTION: FAIL


BILL:HB06-1402
TIME: 07:19:05 PM
MOVED:Fitz-Gerald
MOTION:Moved to postpone House Bill 06-1402 indefinitely. The motion passed on a 5-1 roll call vote.
SECONDED:
VOTE
Fitz-Gerald
Yes
Johnson
Yes
Lamborn
Excused
May R.
Yes
Windels
Yes
Groff
No
Tupa
Yes
Final YES: 5 NO: 1 EXC: 1 ABS: 0 FINAL ACTION: PASS




07:19 PM

The committee laid the remainder of the bills on its calendar over until Friday, May 5, 2006. The committee recessed.