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Legislative Year: 2021 Change
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Bill Detail: HB21-1196

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Title Update Senate Bill 19-263 Effective Date Clause
Status Governor Vetoed (07/02/2021)
Bill Subjects
  • State Government
  • Transportation & Motor Vehicles
House Sponsors D. Valdez (D)
A. Pico (R)
Senate Sponsors R. Zenzinger (D)
House Committee Transportation and Local Government
Senate Committee Finance
Date Introduced 03/04/2021
Summary

Statutory Revision Committee. In 2017, the general assembly
(GA) enacted Senate Bill 17-267, which required the state treasurer to
issue up to $500 million of lease-purchase agreements (COPS) in each of
the 2018-19, 2019-20, 2020-21, and 2021-22 state fiscal years for the
purpose of funding transportation projects. In 2018, the GA enacted
Senate Bill 18-001 (SB 001), which referred a statewide ballot issue at the
November 2019 statewide election that, if approved, would have
authorized the state to issue transportation revenue anticipation notes
(TRANs) for the purpose of funding transportation projects and prevented
the issuance of the last 3 years of COPS. When enacting SB 001, the GA
intended that, upon approval of the ballot issue, the TRANs authorized
would replace the unissued COPS as a source of funding for
transportation projects.
In 2019, the GA enacted Senate Bill 19-263 (SB 263), which
delayed the referral of the ballot issue until the November 2020 general
election. Consistent with the intent of replacing COPs funding with
TRANs funding upon approval of the ballot issue, SB 263 also reduced
the authorized amount of TRANs because approval in 2020 rather than
2019 would prevent the issuance of only 2, rather than 3, years of COPS.
In 2020, the GA also enacted Senate Bill 20-152 (SB 152), which
corrected a technical error in the effective date clause of SB 263 that
would have frustrated the intent of the GA by allowing TRANs to be
authorized without preventing the issuance of 2 years of COPS.
In 2020, after SB 152 was enacted, the GA enacted House Bill
20-1376, which further delayed the referral of the ballot issue to the
November 2021 statewide election and again reduced the authorized
amount of TRANs because approval of the ballot issue in 2021, rather
than 2020, would prevent the issuance of only one, rather than 2, years of
COPS. Due to the additional delay, if the effective date clause of SB 263,
as amended by SB 152, is not amended again, TRANs could be
authorized without preventing the issuance of one year of COPS. To
ensure that this unintended result does not occur, the bill amends the
effective date clause of SB 263, as amended by SB 152, to correct this
issue and thereby ensure that approval of the ballot issue will prevent the
issuance of one year of TRANs as intended by the GA.

Committee Reports
with Amendments
Full Text
Full Text of Bill (pdf) (most recent)
Fiscal Notes Fiscal Notes (08/19/2021) (most recent)  
Additional Bill Documents Bill Documents
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  • Past fiscal notes
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