Results for Proposed Initiative #94

Ballot Title Setting Board
2011-2012

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

An amendment to the Colorado Constitution concerning authorization for political subdivisions of the state to establish and operate banks, and, in connection therewith, allowing political subdivisions to establish and operate banks with the same power and authority of other banks; allowing political subdivisions to deposit all of their revenues, funds, and other assets into such banks and to self-insure deposits with all of their assets; specifying requirements for the governance of such banks, including capitalization requirements; and authorizing the general assembly to provide regulatory guidelines for the oversight of these public banks by the state banking board and the commissioner of financial services.

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 authorization for political subdivisions of the state to establish and operate banks, and, in connection therewith, allowing political subdivisions to establish and operate banks with the same power and authority of other banks; allowing political subdivisions to deposit all of their revenues, funds, and other assets into such banks and to self-insure deposits with all of their assets; specifying requirements for the governance of such banks, including capitalization requirements; and authorizing the general assembly to provide regulatory guidelines for the oversight of these public banks by the state banking board and the commissioner of financial services?

Hearing April 18, 2012

Single subject approved; staff draft amended; titles set.
Hearing adjourned 7:07 PM

Rehearing April 26, 2012

Motion for rehearing denied except to the extent that the Board made changes to the title.
Hearing adjourned 6:08 PM

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