HB 22-1029 CO

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Became Law

In order to recompense the public employees' retirement association (PERA) for the cancellation of a previously scheduled July 1, 2020, direct distribution of $225 million, the act requires an additional direct distribution to PERA of $380 million to be made on the effective date of the act or as soon as possible thereafter. The act also reduces the $225 million July 1, 2023, direct distribution to PERA that is scheduled under current law by at least $155 million but no more than $190 million, depending upon the amount of investment income earned by PERA on the additional $380 million direct distribution so that the July 1, 2023, direct distribution will be between $35 million and $70 million. Finally, the act reduces the $225 million July 1, 2024, direct distribution to PERA that is scheduled under current law by the lesser of an amount equal to 7.25% multiplied by $380 million or an amount equal to PERA's annual rate of return on investments as reported in PERA's 2022 annual report multiplied by $380 million; except that there is no reduction if the rate of return is zero or less. (Note: This summary applies to this bill as enacted.)

• Shannon Bird · primary
• Shane Sandridge · primary
• Chris Kolker Democratic · primary
• Kevin Priola · primary

1. Jun 7, 2022 Governor Signed · executive
2. Jun 1, 2022 Sent to the Governor · executive
3. Jun 1, 2022 Signed by the President of the Senate · upper
4. Jun 1, 2022 Signed by the Speaker of the House · lower
5. May 11, 2022 Senate Third Reading Passed - No Amendments · upper
6. May 10, 2022 Senate Second Reading Special Order - Passed - No Amendments · upper
7. May 10, 2022 Senate Committee on Appropriations Refer Unamended - Consent Calendar to Senate Committee of the Whole · upper
8. May 10, 2022 Introduced In Senate - Assigned to Appropriations · upper
9. May 10, 2022 House Third Reading Passed with Amendments - Floor · lower
10. May 9, 2022 House Second Reading Special Order - Passed with Amendments - Committee · lower
11. May 9, 2022 House Committee on Appropriations Refer Amended to House Committee of the Whole · lower
12. Apr 25, 2022 House Committee on Finance Refer Amended to Appropriations · lower
13. Jan 12, 2022 Introduced In House - Assigned to Finance · lower

The published texts of this bill as it moves through the legislature. Each links to the official document on the state legislature site. Data from OpenStates.

• Signed Act (06/07/2022) · PDF
• Final Act (06/01/2022) · PDF
• Rerevised (05/11/2022) · PDF
• Revised (05/10/2022) · PDF
• Reengrossed (05/10/2022) · PDF
• Engrossed (05/09/2022) · PDF
• Introduced (01/12/2022) · PDF
• PA2 (05/09/2022) · PDF
• PA1 (04/28/2022) · PDF
• Committee Amendment · PDF