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s_fin_2016a_2016-03-29t14:03:58z2 Hearing Summary

Date: 03/29/2016



Final

BILL SUMMARY for SB16-165



SENATE COMMITTEE ON FINANCE


Votes: View--> Action Taken:
Refer Senate Bill 16-165 to the Committee of the W PASS





02:12 PM -- SB16-165



Senator Grantham, prime sponsor, presented Senate Bill 16-165. Effective January 1, 2017, the bill expands the criteria that an insurance company may satisfy in order to qualify for a reduced insurance premium tax rate. Specifically, it removes the requirement that companies that maintain significant direct insurance operations and perform operational functions in Colorado be approved by the Commissioner of Insurance to qualify for the lower insurance premium tax paid by companies with home offices or regional home offices in Colorado.



02:15 PM --
Mr. Christian Rataj, representing National Association of Mutual Insurance Companies, testified in support of the bill.





02:26 PM



Senator Grantham made some closing remarks on the bill.

BILL: SB16-165
TIME: 02:27:45 PM
MOVED: Hill
MOTION: Refer Senate Bill 16-165 to the Committee of the Whole with a recommendation that it be placed on the consent calendar. The motion passed on a vote of 5-0.
SECONDED:
VOTE
Holbert
Yes
Johnston
Yes
Kerr
Yes
Hill
Yes
Neville T.
Yes
Final YES: 5 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: PASS














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