HB13-1297 Summary

• Grants the boards of trustees of Colorado School of Mines and Fort Lewis College authority to invest and manage their own funds, removing the state treasurer's control over fund investments.

• Authorizes both institutions to hold investments in consolidated funds and to hold corporate stock certificates in the names of nominees to facilitate investment transactions.

• Requires each institution to establish an investment advisory committee of at least five members (including the treasurer and three financial community representatives) if the board votes to invest assets.

• Mandates annual written investment policies that acknowledge fiduciary responsibility and establish performance benchmarks for investment managers, with annual financial reporting to the state treasurer, auditor, and Joint Budget Committee.

• Prohibits both institutions from requesting general fund appropriations to replace losses from investment activities and requires maintenance of sufficient liquid assets to cover current fiscal year operational obligations.