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s_fin_2016a_2016-05-05t10:03:47z16 Hearing Summary

Date: 05/05/2016



Final

BILL SUMMARY for SB16-210



SENATE COMMITTEE ON FINANCE


Votes: View--> Action Taken:
Adopt amendment L.004 The motion passed without ob

Adopt amendment L.005 (Attachment H ). The motion

Refer Senate Bill 16-210, as amended, to the Commi
Pass Without Objection

PASS

PASS







The committee took a brief recess.



02:06 PM




Senator Hill gave notice of intent to reconsider House Bill 16-1267.





02:07 PM -- SB16-210



Senator Baumgardner, prime sponsor, presented Senate Bill 16-210, which bill requires the Transportation Commission to submit a ballot question to voters in 2016, 2017, or 2018 for approval of $3.5 billion in Transportation Revenue Anticipation Notes (TRANs) once existing transportation bonds have been repaid. The maximum repayment cost cannot exceed $5.5 billion or take longer than 20 years to repay. TRANs proceeds must be spent on a list of transportation projects described in the bill.



The bill also eliminates the final three years of Senate Bill 09-228 transfers and diverts 5 percent of state sales tax revenue to the Highway Users Tax Fund (HUTF) and 1 percent of state sales tax revenue to the Capital Construction Fund (CCF).



Senator Baumgardner explained amendment L.004 (Attachment G) and Senator Neville explained amendment L.005 (Attachment H).



16SenateFin0505AttachG.pdf16SenateFin0505AttachG.pdf 16SenateFin0505AttachH.pdf16SenateFin0505AttachH.pdf



02:10 PM --
Ms. Sandra Solin, representing the Northern Colorado Legislative Alliance, testified in support of the bill.



02:15 PM --
Mr. David May, Fort Collins Area Chamber of Commerce, testified in support of the bill.



02:18 PM -- Mr. Gerry Horak, Mayor Pro Tem of Fort Collins, testified in support of the bill.



02:21 PM --
Mr. Eric Bergman, representing Colorado Counties, Inc., testified in support of the bill.



02:23 PM --
Mr. Jeff Wadsen, representing the Colorado Business Roundtable, testified in support of the bill.



02:26 PM --
Mr. Grier Baily, representing theWyoming Petroleum Marketers Association, testified in support of the bill.



02:30 PM --
Mr. Greg Fulton, representing the Colorado Motor Carriers Division, testified in support of the bill.



02:34 PM -- Mr. Steve Tool, representing the Northern Colorado Legislative Alliance, testified in support of the bill. Mr. Tool addressed questions from the committee.



02:40 PM --
Ms. Barbara Kirkmeyer, representing the Board of County Commissioners, testified in support of the bill.



02:44 PM --
Mr. Mike Salisbury, representing the South West Energy Efficiency Project, testified in opposition to the bill. Mr. Salisbury responded to questions from the committee.



02:49 PM --
Mr. Joe Kiely, representing the Ports-to-Plains Alliance, testified in support of the bill with amendments.



02:54 PM --
Mr. Herman Stockinger, representing the Colorado Department of Transportation, testified from a neutral position on the bill. He responded to committee questions.





03:00 PM



Senator Baumgardner made closing comments on the bill.

BILL: SB16-210
TIME: 03:03:53 PM
MOVED: Hill
MOTION: Adopt amendment L.004 (Attachment G). The motion passed without objection.
SECONDED:
VOTE
Holbert
Johnston
Kerr
Hill
Neville T.
YES: 0 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: Pass Without Objection




BILL: SB16-210
TIME: 03:04:07 PM
MOVED: Hill
MOTION: Adopt amendment L.005 (Attachment H ). The motion passed on a vote of 3-2.
SECONDED:
VOTE
Holbert
Yes
Johnston
No
Kerr
No
Hill
Yes
Neville T.
Yes
YES: 3 NO: 2 EXC: 0 ABS: 0 FINAL ACTION: PASS




BILL: SB16-210
TIME: 03:05:05 PM
MOVED: Hill
MOTION: Refer Senate Bill 16-210, as amended, to the Committee on Appropriations. The motion passed on a vote of 3-2.
SECONDED:
VOTE
Holbert
Yes
Johnston
No
Kerr
No
Hill
Yes
Neville T.
Yes
Final YES: 3 NO: 2 EXC: 0 ABS: 0 FINAL ACTION: PASS







03:12 PM



The chair laid HB 16-1361 over to Friday's calendar. The committee adjourned.




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