Second Regular Session
               Seventieth General Assembly
                    STATE OF COLORADO
                                                 INTRODUCED
                                                           
                                                           
 LLS NO. 16-0646.01 Nicole Myers x4326   HOUSE BILL 16-1207
                    HOUSE SPONSORSHIP
 Rosenthal,
 
                   SENATE SPONSORSHIP
 (None),
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 House Committees
 Senate Committees
 
 
 Finance
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                         A BILL FOR AN ACT
       Concerning a requirement that the public employees'
            retirement association invest a certain percentage of
            moneys in renewable energy companies.
       
       
                           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.)
       
            Beginning January 1, 2017, and in each calendar year thereafter,
       the public employees' retirement association (association) is required to
       ensure that, of the moneys that are not already invested by the association
       and that the association will invest during the applicable calendar year, at
       least one percent of such moneys are invested in renewable energy
       companies. If the association is unable to invest one percent of such
       moneys in renewable energy companies in any calendar year, the
       association is required to explain why it was unable to satisfy the
       requirement in the comprehensive annual financial report prepared by the
       association.
       
       
       
       Be it enacted by the General Assembly of the State of Colorado:
            SECTION 1.  In Colorado Revised Statutes, 24-51-206, add (4)
       as follows:
            24-51-206.  Investments - definitions. (4) (a)  Notwithstanding
       the provisions of subsection (1) of this section, in the calendar
       year beginning January 1, 2017, and in each calendar year
       thereafter, the association shall ensure that, of the moneys
       that are not already invested by the association and that the
       association will invest during the applicable calendar year, at
       least one percent of such moneys are invested in renewable
       energy companies. If, in any calendar year, the association is
       unable to invest one percent of moneys in renewable energy
       companies in the manner specified in this paragraph (a), the
       association shall include an explanation of the reasons that it
       was unable to satisfy such requirement in the comprehensive
       annual financial report prepared by the association for the
       applicable calendar year.
            (b)  As used in this subsection (4), unless the context
       otherwise requires:
            (I)  "Renewable energy" means any eligible energy
       resources pursuant to section 40-2-124 (1) (a), C.R.S.
            (II)  "Renewable energy company" means an entity that
       satisfies all investment criteria and requirements for
       investments by the association and that either produces
       renewable energy in an amount that is equal to or that exceeds
       sixty percent of the total energy produced by the entity on an
       annual basis or that has the primary purpose of manufacturing
       equipment or a product or providing a service that makes the
       production of renewable energy possible.
            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
       10, 2016, if adjournment sine die is on May 11, 2016); 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 2016 and, in such case, will take effect on the date of the
       official declaration of the vote thereon by the governor.