Date: 03/15/2006

Final
BILL SUMMARY for SB06-126

HOUSE COMMITTEE ON FINANCE

Votes: View--> Action Taken:
Refer Senate Bill 06-126 to the Committee on Appro
PASS
TIE



02:05 PM -- Senate Bill 06-126 - Concerning the Use of Money Appropriated to the State Veterans Trust Fund

Representative Buescher, prime sponsor, explained the provisions in the bill and discussed the State Veterans Trust Fund. The Colorado State Veterans Trust Fund was created to accept one percent, up to $1 million, in money the state receives from the tobacco settlement agreement. These funds are administered by the Colorado State Veterans Board (CSVB) and are used for capital improvement projects for veterans nursing homes and veteran cemetery costs. A portion of the funds are also available to nonprofit veterans programs through a grant process. Representative Buescher explained that Senate Bill 06-126 extends the current allocations of trust fund monies - 75% available for expenditures and 25% held in the trust fund - for one year and proposes a new allocation schedule for the out years.


The following persons testified:

02:06 PM -- Mr. Ralph Bozelle, State Board of Veterans Affairs, testified in support of the legislation. Mr. Bozelle commented that the bill will allow more money to go to veteran services and allow the state to provide more programs for veterans. Mr. Bozelle closed by saying that the Veterans Trust Fund should receive more funding if the state securitizizes its revenue under the tobacco settlement agreement.


02:14 PM -- Mr. Warren Tellgren, United Veterans Committee of Colorado, testified in support of the legislation. He urged the committee to support the legislation in a bipartisan fashion.


02:15 PM -- Mr. Marvin Meyers, Colorado Board of Veterans Affairs, testified in support of the legislation. Mr. Meyers closed by discussing the history of cash flows related to the veterans trust fund and urged committee members to vote for the legislation.

BILL:SB06-126
TIME: 02:19:30 PM
MOVED:Judd
MOTION:Refer Senate Bill 06-126 to the Committee on Appropriations. The motion passed on a 10-0-3 vote.
SECONDED:Jahn
VOTE
Benefield
Yes
Cloer
Excused
Crane
Yes
Frangas
Excused
Garcia
Yes
Harvey
Yes
Jahn
Yes
Kerr
Excused
Marshall
Yes
Massey
Yes
McCluskey
Yes
Judd
Yes
Vigil
Yes
Final YES: 10 NO: 0 EXC: 3 ABS: 0 FINAL ACTION: PASS


02:20 PM

Adjourn.