s_fin_2016a_2016-04-19t14:05:00z1 Hearing Summary
Date: 04/19/2016
Final
BILL SUMMARY for SB16-185
SENATE COMMITTEE ON FINANCE
| Votes: View--> | Action Taken: |
| Refer Senate Bill 16-185 to the Committee of the W | PASS |
02:14 PM
The committee took a recess.
02:17 PM -- SB16-185
The committee returned to order. Senator Scott, prime sponsor, presented Senate Bill 16-185, which requires the administrator of the Consumer Credit Code to adjust the financed dollar amounts for supervised loans and consumer credit sales issued by a Colorado lender based on the consumer price index for the Denver-Boulder-Greeley metropolitan statistical area. The administrator must adjust these amounts for inflation no later than January 1, 2017, and each January 1 thereafter.
02:20 PM -- Ms. Kara Birnbaum, representing Colorado Latino Leadership, Advocacy and Research Organization, testified in opposition to the bill. Ms. Birnbaum addressed several questions from the committee.
02:34 PM -- Mr. Greg Glischinski, representing AARP, testified in opposition to the bill. Mr. Glischinski distributed a letter of opposition from the Urban League of Metropolitan Denver (Attachment A).
16SenateFin0419AttachA.pdf
02:38 PM -- Mr. Tim Gaudette, representing the Small Business Majority, testified in opposition to the bill. Mr. Gaudette addressed comments and questions from the committee.
02:52 PM -- Mr. Rich Jones, representing The Bell Policy Center, testified in opposition to the bill. Mr. Jones addressed comments and questions from the committee.
03:10 PM -- Ms. Michelle Webster, representing the Colorado Center on Law and Policy, testified in opposition to the bill.
03:18 PM -- Reverend Amanda Henderson, representing the Interfaith Alliance of Colorado, testified in opposition to the bill.
03:22 PM -- Ms. Julie Meade, representing the Colorado Attorney Generals Office, testified from a neutral position on the bill and addressed questions from the committee.
03:29 PM -- Mr. Phil Hitz, representing OneMain, Springleaf Financial Services, testified in support of the bill. Mr. Hitz distributed a page listing myths and facts concerning SB 16-185 (Attachment B) and a letter of support from Renewal Financial Services, LLC (Attachment C). He addressed questions from the committee.
16SenateFin0419AttachB.pdf 16SenateFin0419AttachC.pdf
03:46 PM
Senator Scott made some closing remarks on the bill.
| BILL: | SB16-185 | |
| TIME: | 03:49:34 PM | |
| MOVED: | Hill | |
| MOTION: | Refer Senate Bill 16-185 to the Committee of the Whole. The motion passed on a vote of 3-2. | |
| SECONDED: | ||
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VOTE
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Holbert
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Yes
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Johnston
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No
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Kerr
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No
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Hill
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Yes
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Neville T.
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Yes
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Final YES: 3 NO: 2 EXC: 0 ABS: 0 FINAL ACTION: PASS
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