S_FIN_2017A 03/02/2017 Committee Summary
Final
STAFF SUMMARY OF MEETING
SENATE COMMITTEE ON FINANCE
Date: | 03/02/2017 |
ATTENDANCE
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Time: | 10:57 AM to 11:18 AM |
Court
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X
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Kerr
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X
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Place: | SCR 357 |
Tate
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*
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Hill
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X
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This Meeting was called to order by |
Neville T.
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X
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Senator Neville T. | |||
This Report was prepared by | |||
Matt Becker | |||
X = Present, E = Excused, A = Absent, * = Present after roll call
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Bills Addressed: | Action Taken: | ||
HB17-1096 SB17-186 |
Referred to the Committee of the Whole - Consent Calendar Referred to Senate Appropriations |
10:57 AM -- HB17-1096
The committee was called to order. Senator Smallwood, prime sponsor, presented House Bill 17-1096, which allows a cemetery authority to request that the fiduciary of a cemetery endowment care fund convert the fund into a unitrust. The request must be made to the fiduciary by November 5 of the year before the fund is converted and the terms on which the fiduciary and authority agree remain in effect until both parties agree to change them. The bill specifies that if the fiduciary and the authority agree on the disbursement schedule, court approval or notification is not required. A cemetery authority may choose whether the net income of the fund or an amount set through a unitrust election is distributed. If the fiduciary does not receive written instructions from the authority as to the income distribution method, then the fiduciary must disburse the earned net income on a monthly basis. The bill specifies that the fiduciary cannot distribute principal from the fund, unless a unitrust election is in effect. Senator Smallwood responded to a committee question.
11:00 AM -- Matt Whaley, representing Service Corporation International, testified in support of the bill.
11:02 AM
Senator Smallwood wrapped up his presentation of HB 17-1096.
BILL: | HB17-1096 | |
TIME: | 11:03:39 AM | |
MOVED: | Hill | |
MOTION: | Refer House Bill 17-1096 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
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Court
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Yes
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Kerr
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Yes
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Tate
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Yes
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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: 5 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: PASS
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11:04 AM -- SB17-186
Senator Tate, prime sponsor, presented Senate Bill 17-186, which makes changes to state law related to the adoption of rules by state agencies that impact small businesses.
11:07 AM -- Tony Gagliardi, representing the National Federation of Independent Business, testified in support of the bill. Mr. Gagliardi responded to a committee question.
11:11 AM
Anna Gerstle, Legislative Council Staff, came to the table to discuss the fiscal note prepared on the bill. Ms. Gerstle responded to a committee question regarding the increase in FTE estimated by the fiscal note.
11:15 AM
Senator Tate wrapped up his presentation of SB 17-186.
BILL: | SB17-186 | |
TIME: | 11:16:49 AM | |
MOVED: | Tate | |
MOTION: | Refer Senate Bill 17-186 to the Committee on Appropriations. The motion passed on a vote of 3-2. | |
SECONDED: | ||
VOTE
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Court
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No
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Kerr
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No
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Tate
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Yes
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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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11:17 AM
The committee adjourned.