HB15-1344

HB15-1344 - Fund Natl Western Ctr & Capitol Complex Projects

Passed/Signed into Law
Concerning The Financing Of State Capital Construction Projects That Are Included In The National Western Center Or Capitol Complex Master Plans, And, In Connection Therewith, Authorizing The State To Enter Into Lease-Purchase Agreements To Finance Facilities For Colorado State University That Are Included In The National Western Center Master Plan, Creating The National Western Center Trust Fund, And Creating A Capitol Complex Master Plan Implementation Fund As A Funding Source For Projects That Are Includ

The creation of the national western center (NWC) is a partnership among the western stock show association, the city and county of Denver, Colorado state university (CSU), the Denver museum of nature and science, and history Colorado, formed for the purpose of building and operating a new year-round, multi-purpose national western center on and near the existing site of the Denver coliseum and historic national western stock show complex.

Among other things, the NWC master plan provides for an integrated facilities program that includes a variety of facilities for CSU, including an equine sports medicine clinic, a collaborative community outreach veterinary clinic and clinical trials center, a water resources center, and a Colorado state university center that may include: a food systems innovation and learning center; a Denver urban extension center; an educational urban farm with demonstration fields; classrooms; laboratories; and a test kitchen and administrative space. Other facilities and CSU spaces may be identified as design progresses.

Subject to specific project approval by the Colorado commission on higher education, the office of state planning and budgeting, and the capital development committee and inclusion of the projects to be financed in the governor's annual executive budget proposed to the general assembly, the bill authorizes the state, acting by and through the state treasurer, to enter into lease-purchase agreements in a total principal amount not to exceed $250 million and with a maximum term of 20 years for the purpose of financing the construction of facilities for CSU at the NWC and affiliated facilities on the CSU campus. Such a lease-purchase agreement does not create any liability or indebtedness of CSU.

No later than August 1, 2016, and no later than August 1 of each year thereafter, the national western center partnership must submit an annual national western center project report to the offices of the governor, the speaker and minority leader of the house of representatives, and the president and minority leader of the senate. The report must include an update on the national western center project work plan and a general progress report. If the NWC is requesting state funding based upon the phased development schedule for the national western center project, it must also provide information regarding necessary facility programming and an estimated budget.

The national western center trust fund is created, and the state treasurer is required to annually transfer general fund moneys to the trust fund for any fiscal year commencing on or after July 1, 2019, in the amount of the annual payments due on any outstanding lease-purchase agreements subject to specified maximum limits on the amount of each annual transfer. Subject to annual appropriation by the general assembly, CSU may expend money from the trust fund to make lease payments.

The capitol complex master plan implementation fund is created. On and after July 1, 2019, the state treasurer must make annual transfers in specified amounts from the general fund to the implementation fund on July 1 of each fiscal year that commences on or after July 1, 2019, but before July 1, 2024. Once the balance of the implementation fund equals or exceeds a specified amount, and subject to project-specific approval by the capital development committee and annual appropriation by the general assembly, the department of personnel may expend money from the fund for any project that is included in the capitol complex master plan.

Latest update: May 20, 2015
05/20/2015 Governor Signed
05/14/2015 Sent to the Governor
05/13/2015 Signed by the President of the Senate
05/11/2015 Signed by the Speaker of the House
04/30/2015 House Considered Senate Amendments - Result was to Concur - Repass
04/29/2015 Senate Third Reading Passed - No Amendments
04/28/2015 Senate Second Reading Passed with Amendments - Floor
04/24/2015 Senate Committee on Appropriations Refer Unamended to Senate Committee of the Whole
04/22/2015 Senate Committee on Agriculture, Natural Resources, & Energy Refer Unamended to Appropriations
04/17/2015 Introduced In Senate - Assigned to Agriculture, Natural Resources, & Energy
04/17/2015 House Third Reading Passed with Amendments - Floor
04/16/2015 House Second Reading Passed with Amendments - Committee
04/15/2015 House Committee on Agriculture, Livestock, & Natural Resources Refer Amended to House Committee of the Whole
04/08/2015 Introduced In House - Assigned to Agriculture, Livestock, & Natural Resources

3rd Reading Vote Summary - HB15-1344*

House Vote Summary - April 17, 2015
YesNoExcusedAbsent
63110
Senate Vote Summary - April 29, 2015
YesNoExcusedAbsent
191600
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