130FE81A85F0BA3D872584F700643EB7 Hearing Summary CLICS/CLICS2020A/commsumm.nsf PUBLICBILL SUMMARY For SB20-073SENATE COMMITTEE ON EDUCATIONDate Jan 22, 2020 Location SCR 352 SB20-073 - Amended, referred to Senate Appropriations Attachment Tag File Name Attachment D http://www2.leg.state.co.us/CLICS/CLICS2020A/commsumm.nsf/0/6262CC6247EA...$File/20SenateEd0122AttachD.pdf?OpenElement 20SenateEd0122AttachD.pdf Attachment B http://www2.leg.state.co.us/CLICS/CLICS2020A/commsumm.nsf/0/CBEDE3A5E682...$File/20SenateEd0122AttachB.pdf?OpenElement 20SenateEd0122AttachB.pdf Attachment C http://www2.leg.state.co.us/CLICS/CLICS2020A/commsumm.nsf/0/F39BDF797A39...$File/20SenateEd0122AttachC.pdf?OpenElement 20SenateEd0122AttachC.pdf 11:15:00 AM The committee recessed. 11:21:55 AM The committee came back to order. Senator Story, sponsor, presented Senate Bill 20-073, which concerns amendments to the state income tax deduction for contributions to a qualified 529 account to ensure that the state income tax deduction is not aligned with the changes in the federal "Tax Cuts and Jobs Act" of 2017 that allows tax-free distributions for elementary and secondary school expenses. A handout from Taypayers for Public Education was distributed to the committee (Attachment B). Senator Story distributed amendment L.002 (Attachment C) and a memorandum from Legislative Council Staff about the changes made by the amendment to the bill's fiscal impact (Attachment D). 11:27:49 AM Greg Sobetski, Legislative Council Staff, came to the table to speak about the amendment and memorandum (Attachments C and D). Senator Story answered questions from the committee. 11:34:57 AM The following people testified on the bill: 11:35:51 AM Carl Larson, representing the National Association of Insurance and Financial Advisors, testified in support of the bill if amended. Mr. Larson answered questions from the committee. 11:37:51 AM Angela Baier, Executive Director of CollegeInvest, came to the table to answer questions from the committee. 11:47:22 AM Motion Adopt amendment L.002 Moved Story Seconded Bridges Yes Hill No Lundeen No Story Yes Todd Yes YES: 3 NO: 2 EXC: 0 ABS: 0 FINAL ACTION: PASS 11:47:57 AM Motion Refer Senate Bill 20-073, as amended, to the Committee on Appropriations. Moved Story Seconded Bridges Yes Hill No Lundeen No Story Yes Todd Yes Final YES: 3 NO: 2 EXC: 0 ABS: 0 FINAL ACTION: PASS