Second Regular Session
              Sixty-eighth General Assembly
                    STATE OF COLORADO
                                                 INTRODUCED
                                                           
                                                           
 LLS NO. 12-0421.01 Jason Gelender x4330 HOUSE BILL 12-1265
                    HOUSE SPONSORSHIP
 Pace,  Ferrandino, Lee, Singer
 
                   SENATE SPONSORSHIP
 Giron, 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 House Committees
 Senate Committees
 
 
 Finance
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                         A BILL FOR AN ACT
       Concerning a requirement that the state treasurer invest a
            specified amount of state moneys in domestic fixed
            income securities issued for the purpose of raising
            capital for Colorado businesses so long as the state
            treasurer can do so without violating the state
            treasurer's existing duty to use prudence and care to
            preserve the principal and to secure the maximum rate
            of interest consistent with safety and liquidity when
            investing state moneys.
       
       
                           Bill Summary
       
            (Note: This summary applies to this bill as introduced and does
       not reflect any amendments that may be subsequently adopted. If this bill
       passes third reading in the house of introduction, a bill summary that
       applies to the reengrossed version of this bill will be available at
       http://www.leg.state.co.us/billsummaries.)
       
            The bill requires the state treasurer to invest at least $25 million of
       state moneys in domestic fixed income securities issued for the purpose
       of raising capital for business entities that are incorporated in or have
       their corporate headquarters in Colorado so long as the state treasurer can
       do so without violating the state treasurer's existing duty to use prudence
       and care to preserve the principal and to secure the maximum rate of
       interest consistent with safety and liquidity when investing state moneys.
       
       
       
       Be it enacted by the General Assembly of the State of Colorado:
            SECTION 1.  In Colorado Revised Statutes, 24-36-113, add (8)
       as follows:
            24-36-113.  Investment of state moneys - limitations -
       requirements. (8)  The state treasurer shall invest at least
       twenty-five million dollars of state moneys in domestic fixed
       income securities issued for the purpose of raising capital for
       one or more business entities that are incorporated in or have
       their corporate headquarters in Colorado so long as the state
       treasurer can do so without violating the state treasurer's
       duty to use prudence and care to preserve the principal and to
       secure the maximum rate of interest consistent with safety and
       liquidity when investing state moneys as set forth in paragraph
       (a) of subsection (1) of this section.
            SECTION 2.  Act subject to petition - effective date. This act
       takes effect at 12:01 a.m. on the day following the expiration of the
       ninety-day period after final adjournment of the general assembly (August
       8, 2012, if adjournment sine die is on May 9, 2012); except that, if a
       referendum petition is filed pursuant to section 1 (3) of article V of the
       state constitution against this act or an item, section, or part of this act
       within such period, then the act, item, section, or part will not take effect
       unless approved by the people at the general election to be held in
       November 2012 and, in such case, will take effect on the date of the
       official declaration of the vote thereon by the governor.