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Appropriations committee declines House bill that would ease limits on in‑state Legacy Fund investments
Summary
The Government Operations Division heard House Bill 13‑30 and adopted an amendment that removed a mandatory divestment provision and gave the State Investment Board more discretion for in‑state investments; after debate the committee recommended do‑not‑pass on the bill as amended and Senator Dwyer agreed to carry it to the full Senate.
The committee opened discussion on House Bill 13‑30, a measure that would alter how certain state investment authorities handle in‑state investments tied to the Legacy Fund and related programs. Committee members adopted Amendment 2003, which replaces a mandatory divestment requirement with discretionary language and moves definitional language to the appropriate section; after debate the committee issued a do‑not‑pass recommendation on the bill as amended.
Jody Smith, interim director for the Retirement and Investment Office, told the committee the in‑state investment program referenced in the bill was…
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