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34D4058011A5B2CB8725880F007B31CF Hearing Summary




PUBLIC
BILL SUMMARY For HB22-1277

HOUSE COMMITTEE ON BUSINESS AFFAIRS & LABOR
Date Mar 24, 2022      
Location HCR 0112



HB22-1277 - Postponed Indefinitely

04:25:38 PM  
The committee took a brief recess.
04:34:11 PM  
The committee reconvened.
04:34:18 PM  
Representatives Mullica
and Neville, bill sponsors, introduced House Bill 22-1277, Authorize Credit
Unions to Hold Public Money.  The bill allows public money to be deposited
or invested with a credit union that is federally insured, and permits
credit unions to make loans to public entities.



The bill sponsors
provided Amendments L.003 and L.004 (Attachments H and I) and a handout
(Attachment J) to the committee.  The bill sponsors responded to questions
from the committee.
04:41:20 PM  
Assistant District
Attorney Amanda Gall, representing First Judicial District Attorney Alexis
King, testified in support of the bill.  Commissioner Steve O'Dorisio,
representing Adams County, testified in support of the bill.  Mayor
Pro Tem Rachel Friend, representing the City of Boulder, testified in support
of the bill.  The witnesses answered several committee questions.
04:45:40 PM  
Jenifer Waller, representing the Colorado Bankers Association, testified in opposition to the bill.
04:58:28 PM  
Matthew Propst, representing ANB Bank, testified in opposition to the bill.
05:00:59 PM  
Joe Martinez, representing the Independent Bankers of Colorado, testified in opposition to the bill.
05:04:50 PM  
The prior panel of witnesses responded to questions from the committee.
05:10:06 PM  
Meghan MacKillop, representing the Colorado Municipal League, testified in support of the bill.
05:12:10 PM  
Chip Taylor, representing the Special District Association of Colorado, testified in support of the bill.
05:14:57 PM  
Thomas Davidson, representing Counties & Commissioners Acting Together (CCAT), testified in support of the bill.
05:16:46 PM  
Curtis Gardner, representing himself, testified in support of the bill.
05:19:13 PM  
The prior panel of witnesses responded to questions from the committee.
05:20:54 PM  
Jay Goddard, representing Points West Community Bank, testified in opposition to the bill.
05:25:13 PM  
Jennifer Luce, representing FirstBank, testified in opposition to the bill.
05:27:49 PM  
Clay Whitham, representing Frontier Bank, testified in opposition to the bill.
05:31:29 PM  
The prior panel of witnesses responded to questions from the committee.
05:40:20 PM  
Malcolm Johnson, representing Canvas Credit Union, testified in support of the bill.
05:44:15 PM  
David Brown, representing Weld Community Credit Union, testified in support of the bill.
05:47:47 PM  
Darin Atteberry, representing Elevations Credit Union, testified in support of the bill.
05:51:43 PM  
The prior panel of witnesses responded to questions from the committee.
06:14:17 PM  
Rebecca Diaz, representing Legacy Bank, testified in opposition to the bill.
06:18:25 PM  
Sherry Waner, representing
First Southwest Bank, testified in opposition to the bill.  Ms. Waner
provided a handout to the committee, which can be found here:
https://fswcf.org/impact/.
06:22:06 PM  
Jay Rickstrew, representing Alpine Bank, testified in opposition to the bill.
06:25:52 PM  
Loren Furman, representing the Colorado Chamber of Commerce, testified in opposition to the bill.
06:29:43 PM  
Eric Budreau, representing the Independent Bankers of Colorado, testified in opposition to the bill.
06:33:31 PM  
The prior panel of witnesses responded to questions from the committee.
06:35:04 PM  
John Ruby, representing Bellco Credit Union, testified in support of the bill.
06:38:50 PM  
Sarah Bay, representing Denver Community Credit Union, testified in support of the bill.
06:42:13 PM  
Dan Diorio, representing the Mountain West Credit Union Association, testified in support of the bill.
06:45:41 PM  
The prior panel of witnesses responded to questions from the committee.
06:45:42 PM  
Additional testimony that was submitted to the committee for consideration is provided as Attachment K.


06:50:04 PM
Motion Adopt amendment L.004, which amends L.003
Moved Mullica
Seconded Duran
Amabile
Bird
Carver
Duran
Lynch
Mullica
Ricks
Sandridge
Snyder
Van Beber
Van Winkle
Sullivan
Roberts
YES: 0   NO: 0   EXC: 0   ABS:  0   FINAL ACTION:  Pass Without Objection


06:50:32 PM
Motion Adopt amendment L.003, as amended by L.004
Moved Mullica
Seconded Van Winkle
Amabile
Bird
Carver
Duran
Lynch
Mullica
Ricks
Sandridge
Snyder
Van Beber
Van Winkle
Sullivan
Roberts
YES: 0   NO: 0   EXC: 0   ABS:  0   FINAL ACTION:  Pass Without Objection
06:51:16 PM  
The bill sponsors and committee members made closing remarks on the bill.


07:08:23 PM
Motion Refer House Bill 22-1277, as amended, to the Committee on Finance.
Moved Mullica
Seconded Duran
Amabile Yes
Bird No
Carver No
Duran Yes
Lynch No
Mullica Yes
Ricks No
Sandridge Yes
Snyder No
Van Beber No
Van Winkle No
Sullivan Yes
Roberts No
YES: 5   NO: 8   EXC: 0   ABS:  0   FINAL ACTION:  FAIL


07:08:48 PM
Motion Postpone House Bill 22-1277 indefinitely using a reversal of the previous roll call. There was no objection to the use of the reverse roll call, therefore, the bill was postponed indefinitely.
Moved Sullivan
Seconded Snyder
Amabile No
Bird Yes
Carver Yes
Duran No
Lynch Yes
Mullica No
Ricks Yes
Sandridge No
Snyder Yes
Van Beber Yes
Van Winkle Yes
Sullivan No
Roberts Yes
Final YES: 8   NO: 5   EXC: 0   ABS:  0   FINAL ACTION:  PASS






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