Skip to main content
Colorado General AssemblyToggle Main Menu
Agency NameToggle Agency Menu

h_bus_2016a_2016-02-23t13:34:28z2 Hearing Summary

Date: 02/23/2016



Final

BILL SUMMARY for SB16-014



HOUSE COMMITTEE ON BUSINESS AFFAIRS AND LABOR


Votes: View--> Action Taken:
Adopt amendment L.002. The motion passed without o

Refer Senate Bill 16-014, as amended, to the Commi
Pass Without Objection

PASS







02:15 PM -- SB 16-014



Representative Williams, sponsor, introduced Senate Bill 16-014. The bill aligns state mortgage originator disclosure requirements with federal requirements by repealing select provisions of statute and replacing those with cross references to applicable federal statutes and rules, such as the federal Truth in Lending Act and the Real Estate Settlement Procedures Act of 1974. The bill also permits future rulemaking by the state Board of Mortgage Loan Originators related to compliance with other applicable statutes and regulations.



02:18 PM --
Cary Whitaker, Colorado Mortgage Lenders Association, testified in support of the bill. Mr. Whitaker discussed the proposed amendment L.002 (Attachment E).



160223 AttachE.pdf160223 AttachE.pdf



02:22 PM --
Marcia Waters, Department of Regulatory Agencies Division of Real Estate, testified in support of the bill.



02:23 PM --
Jennifer Waller, Carbon Acres Association, testified in support of the bill.



02:24 PM



Representative Williams discussed amendment L.002.

BILL: SB16-014
TIME: 02:25:04 PM
MOVED: Williams
MOTION: Adopt amendment L.002. The motion passed without objection.
SECONDED: Garnett
VOTE
Arndt
Garnett
Navarro
Nordberg
Pabon
Rosenthal
Roupe
Sias
Thurlow
Winter
Wist
Kraft-Tharp
Williams
YES: 0 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: Pass Without Objection







02:25 PM



Representative Williams made closing remarks.


BILL: SB16-014
TIME: 02:25:46 PM
MOVED: Williams
MOTION: Refer Senate Bill 16-014, as amended, to the Committee of the Whole. The motion passed on a vote of 12-0.
SECONDED: Nordberg
VOTE
Arndt
Yes
Garnett
Yes
Navarro
Yes
Nordberg
Yes
Pabon
Yes
Rosenthal
Yes
Roupe
Yes
Sias
Yes
Thurlow
Yes
Winter
Excused
Wist
Yes
Kraft-Tharp
Yes
Williams
Yes
Final YES: 12 NO: 0 EXC: 1 ABS: 0 FINAL ACTION: PASS










COVID-19 Resources
NORTH ENTRANCE IS CURRENTLY CLOSED.  TO ENTER THE CAPITOL, USE THE SOUTH ENTRANCE, UNDER THE STAIRS, AT 14th AVENUE AND SHERMAN STREET.