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Appropriations panel approves Senate Bill 183 after debate over COP dollars and deferred construction
Summary
The committee approved Senate Bill 183, which uses previously appropriated COP-related funds for capital projects; members debated whether diverting $780,000 and delaying new construction would free general-fund capacity but reduce bonding power by about $13 million before passing the bill 6–1.
The Committee on Appropriations voted to adopt Senate Bill 183 as amended after a contentious discussion over the use of COP (certificates of participation)–related and federal mineral lease dollars.
A committee member explained that $780,000 reflected funds previously appropriated in connection with COP financings and that deferring the new construction item would ‘‘add $7.8M to our general fund for other priorities’’ but would also reduce the state’s capacity to bond by roughly $13 million, limiting funds available for capital development projects. The sponsor said the dollars originated from federal mineral lease receipts and were part of an earlier $240 million suite of projects funded by COPs.
Opponents argued this item differs from typical sunset or continuation projects because it is a new-construction item not previously funded by a department’s routine budget. One committee member warned that if the legislature delays the project now, the state could lose the ability to issue COPs at the favorable financing currently available and might instead have to seek financing in the future under different terms.
Supporters emphasized that the money had already been appropriated in prior actions and that the funding would complete repairs for a building at the Colorado School of Mines, including needed HVAC work. A sponsor said the project addresses a building ‘‘in bad shape’’ (the Guggenheim and Hall repairs were discussed in committee remarks) and noted other recent controlled-maintenance and continuation projects funded for higher-education buildings.
Members adopted amendment J001 on a recorded voice vote, and the committee passed the bill 6–1. The committee’s action keeps the amended bill moving to the next stage of consideration. The committee did not record any additional conditions or implementation assignments on the floor during the vote.
