H_FIN_2016A 01/20/2016 Committee Summary

Representative Court, chair, called the meeting to order. A quorum was present.



01:35 PM -- Introduction of Fiscal Analysts



Mr. Greg Sobetski, Legislative Council Staff, came to the table to discuss the fiscal note process and introduce the economics staff.



Ms. Kate Watkins, Legislative Council Staff, came to the table to introduce Legislative Council Staff's Colorado Online Tax Handbook

(https://www.colorado.gov/pacific/cga-legislativecouncil/colorado-online-tax-handbook-0).





01:40 PM -- HB16-1038



Representatives Melton and Salazar came to the table to discuss House Bill 16-1038. The bill, recommended by the Police Officers' and Firefighters' Pension Reform Commission, allows counties that do not cover, under the federal Social Security Act, salaried employees whose duties are directly involved with the provision of law enforcement or fire protection to elect coverage under the Fire and Police Pension Association (FPPA). In order to affiliate, the county must file a resolution with the FPPA board and election of coverage under the plan is irrevocable.



01:41 PM -- Mr. Kevin Lindahl, representing the FPPA, came to the table to answer committee questions.

01:47 PM -- HB16-1028



Representative Van Winkle introduced House Bill 16-1028. The bill, recommended by the Police Officers' and Firefighters' Pension Reform Commission, changes the computation of a transfer of funds from the statewide death and disability plan of the FPPA to the normal retirement plan of an FPPA member who has incurred a temporary disability. The bill also changes the deadline for completion of a newly hired member's statewide standard health history form.



01:48 PM -- Mr. Kevin Lindahl, representing FPPA, came to the table to answer committee questions.

01:52 PM -- HB16-1049



Representative Lee introduced House Bill 16-1049. The bill modifies the definition of the type of institution that must be used to set up an escrow account for holding the proceeds of a sale of intrastate securities to be a "depository institution" rather than a specific type of financial institution. It also allows the escrow account to be terminated and its proceeds to be distributed when the minimum offering amount has been raised rather than the maximum amount.



01:55 PM -- Ms. Lillian Alviz, representing the Colorado Division of Securities in the Department of Regulatory Affairs, came to table in support of the bill.



01:58 PM -- Mr. Herrick Lidstone, representing himself, came to the table in support of the bill.



02:06 PM -- Ms. Micki Hackenberger, representing the Colorado Technology Association, came to the table to support the bill.

02:08 PM -- HB16-1026



Representatives Thurlow and Kraft-Tharp introduced House Bill 16-1026. The bill repeals the requirement that, to the extent information is available, the Department of Revenue provide quarterly reports on the revenue impact of certain bills passed during the 2010 legislative session.

02:14 PM -- HB16-1052



Representative Becker, K. introduced House Bill 16-1052. The bill, recommended by the Wildfire Matters Review Committee, eliminates the wildfire mitigation income tax deduction and creates a wildfire mitigation state income tax credit. The tax credit will be available for tax years 2017 through 2019.



02:21 PM -- Mr. Gaspar Perricone, representing the Colorado Department of Natural Resources (DNR), came to the table discuss the bill.



02:24 PM -- Ms. Janene Johnson, representing the Colorado Association of Relators, testified in support of the bill.





02:39 PM



Committee discussion ensued.



02:44 PM -- Ms. Esther van Mourik, Office of Legislative Legal Services, came to the table to discuss possible amendment L.001.





02:45 PM



The committee recessed.













02:51 PM



The committee came back to order.

03:07 PM



The committee adjourned.