d86fd0f1_State_Bill_Colorado___Dossier__1
[0] SB12-150 [2] SCHWARTZ / SONNENBERG [3] S.B. 12-150 State treasurer - authority to manage state public financing - rules. In order to provide more centralized management of the state's public financing structure, section 1 of the act requires the state treasurer to act as the issuing manager for certain approved issuances or incurrences of financial obligations by the state acting by and through any state agency. Section 1 also: Specifies that the state treasurer has the sole discretion to manage the issuance or incurrence of such financial obligations, except for certain financial obligations of state institutions of higher education, subject to the criteria established in a state public financing policy to be promulgated as required; With respect to any state financial obligation, requires the state treasurer to, at minimum, determine the financing structure and term, decide the market timing, and select or hire, as applicable, the state financing team; Requires a state agency to provide written notice to the state treasurer of any anticipated issuance or incurrence of a financial obligation; Requires a state agency to provide the state treasurer with the information that the state treasurer considers necessary to act as the issuing manager for the issuance or incurrence of financial obligations and to comply with federal and state securities laws and contractual covenants; Requires the state treasurer, in performing his or her duties as the issuing manager, to consider any relevant factors that he or she considers necessary to protect the financial integrity of the state; Clarifies that the state treasurer is the elected representative and signatory for all forms required by the internal revenue code to be filed in connection with issuances or incurrences of financial obligations by the state acting by and through a state agency; Requires the state treasurer to collaborate with the state controller, the office of state planning and budgeting, bond counsel, the attorney general, and the capital development committee in developing and then promulgating by rule a state public financing policy and provides a list of items that must minimally be included in the policy; Requires all state institutions of higher education to report specific information to the state treasurer related to financial obligations, the principal amount of which is one million dollars or more, that the treasurer does not manage on an institution's behalf; Requires the department of transportation to report specific information to the state treasurer related to financial contracts or instruments; On and after July 1, 2012, requires the issuance or incurrence of every financial obligation that the state treasurer manages to include a specified amount to be paid to the state treasurer and credited to the state public financing cash fund, to be used to reimburse the state treasurer for verifiable costs incurred in performing or overseeing the state's primary issuance compliance and post-issuance compliance responsibilities over the term of a financial obligation; and Requires the state treasurer to create and maintain a correct and current inventory of all state-owned real property that is used as leased property or as collateral in any type of financial obligation. The state treasurer must annually provide a copy of the inventory to the capital development committee. Section 2 of the act requires a certain group of state agencies to notify the state treasurer when they enter into agreements for an exchange of interest rates, cash flows, or payments as provided in law. Section 3 of the act requires a qualified charter school to provide the state treasurer with certain information when the state treasurer authorizes expenditures from the state charter school debt reserve fund or the state charter school interest savings account of the fund. The act decreases an appropriation made to the department of personnel for the 2012-13 fiscal year by $42,961 and 0.5 FTE for the implementation of the act. APPROVED by Governor May 24, 2012 EFFECTIVE May 24, 2012 [4] 05/24/2012 Governor Action - Signed [5] NOT ON CALENDAR [6] No news items found [1] 
State Treasurer Auth To Manage State Financing
State Bill Colorado - Dossier
1