---
type: "Bill"
title: "Compensatory Direct Distribution To Public Employees' Retirement Association"
description: "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."
jurisdiction: "us/states/co"
legislature: "Colorado General Assembly"
session: "2022A"
identifier: "HB 22-1029"
citation: "Colorado HB 22-1029 (2022A)"
classification: ["bill"]
subjects: []
status: "enacted"
primary_sponsors: ["Chris Kolker", "Kevin Priola", "Shane Sandridge", "Shannon Bird"]
version_count: 10
action_count: 13
vote_count: 4
first_action: "2022-01-12T07:00:00+00:00"
last_action: "2022-06-07T06:00:00+00:00"
source: "openstates"
source_identifier: "ocd-bill/f4504249-8e14-4c50-974a-d6f402728833"
source_url: "https://leg.colorado.gov/bills/hb22-1029"
source_hash: "d2ac68ab67d7bd081f39bf2252ccee5bf61416a7c8b43115563a25489a61f314"
vintage: "2026-07-01"
source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
retrieved_at: "2026-07-06"
confidence: "reported"
tags: ["legislation", "bill", "us-co"]
---

# Colorado HB 22-1029 (2022A) — Compensatory Direct Distribution To Public Employees' Retirement Association

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.

## Version chain

The bill's text revisions, in order — the diff chain from filing to enrollment.

1. **Committee Amendment** (committee substitute) — [source](https://leg.colorado.gov/sites/default/files/2022a_hb1029_s_app_002.pdf)
2. **Engrossed (05/09/2022)** (committee substitute) — [source](https://leg.colorado.gov/sites/default/files/documents/2022A/bills/2022a_1029_en2.pdf)
3. **Final Act (06/01/2022)** (committee substitute) — [source](https://leg.colorado.gov/sites/default/files/documents/2022A/bills/2022a_1029_enr.pdf)
4. **Introduced (01/12/2022)** (committee substitute) — [source](https://leg.colorado.gov/sites/default/files/documents/2022A/bills/2022a_1029_01.pdf)
5. **PA1 (04/28/2022)** (committee substitute) — [source](https://leg.colorado.gov/sites/default/files/documents/2022A/bills/2022a_1029_h_fin_01.pdf)
6. **PA2 (05/09/2022)** (committee substitute) — [source](https://leg.colorado.gov/sites/default/files/documents/2022A/bills/2022a_1029_h_app_01.pdf)
7. **Reengrossed (05/10/2022)** (committee substitute) — [source](https://leg.colorado.gov/sites/default/files/documents/2022A/bills/2022a_1029_ren.pdf)
8. **Rerevised (05/11/2022)** (committee substitute) — [source](https://leg.colorado.gov/sites/default/files/documents/2022A/bills/2022a_1029_rer.pdf)
9. **Revised (05/10/2022)** (committee substitute) — [source](https://leg.colorado.gov/sites/default/files/documents/2022A/bills/2022a_1029_rev.pdf)
10. **Signed Act (06/07/2022)** (committee substitute) — [source](https://leg.colorado.gov/sites/default/files/2022a_1029_signed.pdf)

## Votes

- PERM — **60–5** (pass) · lower
- AMD — **63–2** (pass) · lower
- BILL — **58–7** (pass) · lower
- BILL — **35–0** (pass) · upper

## Sponsors

- Chris Kolker — primary (person)
- Kevin Priola — primary (person)
- Shane Sandridge — primary (person)
- Shannon Bird — primary (person)

## Timeline

The legislative action history — every referral, reading, and vote.

- **2022-06-07T06:00:00+00:00** Governor Signed `executive-signature`
- **2022-06-01T06:00:00+00:00** Sent to the Governor `executive-receipt`
- **2022-06-01T06:00:00+00:00** Signed by the President of the Senate
- **2022-06-01T06:00:00+00:00** Signed by the Speaker of the House
- **2022-05-11T06:00:00+00:00** Senate Third Reading Passed - No Amendments `passage, reading-3`
- **2022-05-10T06:00:00+00:00** Senate Second Reading Special Order - Passed - No Amendments
- **2022-05-10T06:00:00+00:00** Senate Committee on Appropriations Refer Unamended - Consent Calendar to Senate Committee of the Whole `committee-passage`
- **2022-05-10T06:00:00+00:00** Introduced In Senate - Assigned to Appropriations `introduction`
- **2022-05-10T06:00:00+00:00** House Third Reading Passed with Amendments - Floor `passage, reading-3`
- **2022-05-09T06:00:00+00:00** House Second Reading Special Order - Passed with Amendments - Committee
- **2022-05-09T06:00:00+00:00** House Committee on Appropriations Refer Amended to House Committee of the Whole `committee-passage, referral-committee`
- **2022-04-25T06:00:00+00:00** House Committee on Finance Refer Amended to Appropriations `referral-committee`
- **2022-01-12T07:00:00+00:00** Introduced In House - Assigned to Finance `introduction`

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/f4504249-8e14-4c50-974a-d6f402728833`. Confidence: reported (aggregated from official Colorado legislature records).