Ballot Title Setting Board
2015-2016

The title as designated and fixed by the Board is as follows:

An amendment to the Colorado constitution concerning the establishment of a publicly owned state bank as an enterprise exempt from the requirements of the Taxpayer’s Bill of Rights, and, in connection therewith, authorizing the bank to lend money for public purposes; requiring all assets of the state held by other financial institutions to be transferred to the bank; creating a seven-member board of directors elected from each state congressional district to manage the bank and a nine-member advisory board appointed by the governor to advise the board of directors; allowing the bank to issue revenue bonds to capitalize itself and to support its facilities and operations; requiring independent annual audits of the bank’s finances; and specifying that the amendment supersedes conflicting constitutional, state, and local laws.

The ballot title and submission clause as designated and fixed by the Board is as follows:

Shall there be an amendment to the Colorado constitution concerning the establishment of a publicly owned state bank as an enterprise exempt from the requirements of the Taxpayer’s Bill of Rights, and, in connection therewith, authorizing the bank to lend money for public purposes; requiring all assets of the state held by other financial institutions to be transferred to the bank; creating a seven-member board of directors elected from each state congressional district to manage the bank and a nine-member advisory board appointed by the governor to advise the board of directors; allowing the bank to issue revenue bonds to capitalize itself and to support its facilities and operations; requiring independent annual audits of the bank’s finances; and specifying that the amendment supersedes conflicting constitutional, state, and local laws?

Hearing April 20, 2016

Single subject approved; staff draft amended; titles set.
Hearing adjourned 4:16 PM.

Rehearing April 28, 2016

Motion for Rehearing filed by Childears granted. Title Setting denied - substantial amendment after legislative staff review and comment meeting, contrary to CRS 1-40-105(2), C.R.S.
Hearing adjourned 1:59 PM.

* Unofficially captioned “Establishment of State-Owned Bank” by legislative staff for tracking purposes. This caption is not part of the titles set by the Board.