Amendments for HB20-1413

House Journal, June 8
52 HB20-1413 be amended as follows, and as so amended, be referred to
53 the Committee on Appropriations with favorable
54 recommendation:
55
56 Amend printed bill, page 5, line 15, strike "LOAN".
1 Page 5, line 16, after "LOANS" insert "FROM LENDING INSTITUTIONS DOING
2 BUSINESS IN COLORADO".
3
4 Page 5, line 17, strike "RESILIENCY; AND" and substitute "RESILIENCY
5 FROM THE EFFECTS OF THE COVID-19 PANDEMIC;"
6
7 Page 5, after line 17, insert:
8
9 "(j) THERE IS A WELL-FUNCTIONING NETWORK OF RESPECTED
10 LENDING INSTITUTIONS ACROSS THE STATE WHO ARE COMMITTED TO THE
11 HEALTH OF COLORADO'S ECONOMY AND WANT TO CONTRIBUTE THEIR
12 EXPERTISE AND COMMUNITY RELATIONSHIPS TO SUPPORT THE SUCCESS OF
13 COLORADO'S SMALL BUSINESS COMMUNITY;
14 (k) THE STATE WILL RELY ON THOSE LENDING INSTITUTIONS AS
15 ESSENTIAL PARTNERS IN A SMALL BUSINESS RECOVERY LOAN PROGRAM;
16 AND".
17
18 Reletter succeeding subparagraph accordingly.
19
20 Page 5, line 20, after "SUPPORT" insert "COLORADO".
21
22 Page 10, after line 25 insert:
23
24 "(7) THE OVERSIGHT BOARD IS A STATE PUBLIC BODY SUBJECT TO
25 PART 4 OF ARTICLE 6 OF THIS TITLE 24. IN ADDITION TO ANY OTHER
26 REQUIREMENTS, THE OVERSIGHT BOARD SHALL HOLD MEETINGS OPEN TO
27 THE PUBLIC, PUBLISH THE AGENDA FOR EACH MEETING IN ADVANCE, KEEP
28 AND PUBLISH MINUTES FROM EACH MEETING, PROVIDE ADVANCED
29 NOTIFICATION OF MEETING TIMES TO BANKING TRADE ASSOCIATIONS AND
30 OTHER GROUPS THAT REQUEST NOTIFICATION, AND RECEIVE WRITTEN AND
31 PUBLIC TESTIMONY AT EACH MEETING.".
32
33 Renumber succeeding subsections accordingly.
34
35 Page 11, line 5, strike "DETERMINING" and substitute "IN CONSULTATION
36 WITH LENDING INDUSTRY LEADERS AND REPRESENTATIVES OF SMALL
37 BUSINESSES, DETERMINING".
38
39 Page 11, line 6, after "24-36-205," insert "WHICH TERMS MUST BE
40 DESIGNED IN GOOD FAITH TO PROCURE THE PARTICIPATION OF LENDING
41 INSTITUTIONS AND BE CONSISTENT WITH REGULATORY REQUIREMENTS
42 AND UNDERWRITING CRITERIA,".
43
44 Page 11, line 14, strike "(7)(d)" and substitute "(8)(d)".
45
46 Page 11, line 19, strike "(7)(d)" and substitute "(8)(d)".
47
48 Page 14, line 13, after the period add "THE FUND SHALL ONLY MAKE
49 LOANS DIRECTLY IF FEDERAL OR STATE BANK REGULATORS PROHIBIT THE
50 BANKING INDUSTRY FROM ORIGINATING LOANS FOR THE LOAN PROGRAM.".
51
52 Page 16, line 20, after "PURPOSE." insert "THE OVERSIGHT BOARD SHALL
53 CONSULT WITH LENDING INDUSTRY LEADERS AND REPRESENTATIVES OF
54 SMALL BUSINESSES WITH REGARD TO SUBSECTIONS (4)(b)(I) TO (4)(b)(VI)
55 OF THIS SECTION.".
56
1 Page 16, strike line 24 and substitute "DOLLARS, AS DETERMINED BY THE
2 OVERSIGHT BOARD;".
3
4 Page 16, line 25, strike "AN" and substitute "A MAXIMUM".
5
6 Page 16, lines 25 and 26, strike "NOT MORE THAN".
7
8 Page 16, line 27, strike "PREPAYMENT;" and substitute "PREPAYMENT, AS
9 DETERMINED BY THE OVERSIGHT BOARD. THE ORIGINATING LENDER MAY
10 EXTEND THE TERM FOR PURPOSES OF RESTRUCTURING THE LOAN."
11
12 Page 17, line 1, strike "AMORTIZED;" and substitute "AMORTIZED OVER
13 THE TERM OF THE LOAN OR A LONGER PERIOD, AS DETERMINED BY THE
14 OVERSIGHT BOARD;".
15
16 Page 17, line 3, after "YEAR," insert "AS DETERMINED BY THE OVERSIGHT
17 BOARD," and strike "CAPITALIZED;" and substitute "CAPITALIZED.
18 DEFERRALS MUST BE LIMITED TO CIRCUMSTANCES OF HARDSHIP CREATED
19 BY THE COVID-19 PANDEMIC.".
20
21 Page 17, line 15, strike "PER CAPITA BASIS AND IS" and substitute "BASIS
22 PROPORTIONAL TO THE COUNTY'S SHARE OF SMALL BUSINESSES RELATIVE
23 TO THE STATE, THE COUNTY'S SHARE OF SMALL BUSINESS EMPLOYEES
24 RELATIVE TO THE STATE, THE COUNTY'S SHARE OF SMALL BUSINESS
25 PERSONAL PROPERTY RELATIVE TO THE STATE, OR OTHER SIMILAR
26 METRICS AS DETERMINED BY THE OVERSIGHT BOARD. THE MONEY
27 ALLOCATED TO EACH COUNTY MUST BE".
28
29 Page 17, line 16, strike "COUNTY." and substitute "COUNTY FOR THE
30 INITIAL PERIOD OF TIME.".
31
32 Page 18, line, 8, strike "(7)(d)" and substitute "(8)(d)".
33
204 34 Page 19, line 18, strike "24-36-204 (11)," and substitute "24-36-
35 (12),".
36
37 Page 23, line 23, strike "AND THE DEPARTMENT OF REVENUE".
38
39 Page 24, line 10, strike "THE DEPARTMENT OF REVENUE OR".
40
41 Page 26, line 1, strike "AND TO THE DEPARTMENT OF REVENUE".
42
43

House Journal, June 8
6 Amendment No. 1, Finance Report, dated June 6, 2020, and placed in
7 member’s bill file; Report also printed in House Journal, June 8, 2020.
8
9 Amendment No. 2, by Representative Bird.
10
11 Amend the Finance Committee Report, dated June 6, 2020, page 1, line
12 7, strike "THERE" and substitute "THERE".
13
14 Page 1, line 12, strike "THE" and substitute "THE".
15
16 Page 1, after line 16, insert "Page 9, line 18, strike "OFFICE OF ECONOMIC
17 DEVELOPMENT" and substitute "MINORITY BUSINESS OFFICE CREATED IN
18 SECTION 24-49.5-102, ON BEHALF OF THE OFFICE OF ECONOMIC
19 DEVELOPMENT,".".
20
21 Page 2, line 19, strike "FUND" and substitute "LOAN PROGRAM".
22
23 Page 3, line 16, strike "BOARD." and substitute "BOARD, OR BASED ON A
24 FORMULA ESTABLISHED UNDER SUBSECTION (4)(c)(IV) OF THIS SECTION.".
25
26 Page 3, after line 19 insert "Page 18, after line 5 insert:
27 "(IV) FOR ANY TRANCHE OF LOAN FUNDING, THE OVERSIGHT
28 BOARD MAY, IN ITS DISCRETION, ESTABLISH AN ALTERNATIVE FORMULA
29 FOR THE ALLOCATION OF FUNDS TO COUNTIES FOR PURPOSES OF
30 SUBSECTION (4)(c)(I) OF THIS SECTION THAT ACCOUNTS FOR HOW
31 AFFECTED EACH COUNTY HAS BEEN BY THE COVID-19 PANDEMIC AND ITS
32 IMPACTS.".".
33
34 As amended, ordered engrossed and placed on the Calendar for Third
35 Reading and Final Passage.
36