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S_FIN_2017A 03/07/2017 Committee Summary

Final

STAFF SUMMARY OF MEETING



SENATE COMMITTEE ON FINANCE

Date: 03/07/2017
ATTENDANCE
Time: 02:02 PM to 02:33 PM
Court
X
Kerr
X
Place: SCR 357
Tate
X
Hill
*
This Meeting was called to order by
Neville T.
X
Senator Neville T.
This Report was prepared by
Matt Becker
X = Present, E = Excused, A = Absent, * = Present after roll call
Bills Addressed: Action Taken:
Conf 17-Banking Board

HB17-1136

HB17-1157
Favorably Refer to Full Senate - Consent

Referred to the Committee of the Whole - Consent Calendar

Referred to the Committee of the Whole - Consent Calendar





02:02 PM -- Confirmation of Banking Board



The committee was called to order. Chris Myklebust, State Bank Commissioner, introduced Jonathan Randall Fox, reappointee to the Colorado Banking Board. Mr. Fox discussed his qualifications to serve on the board and responded to committee questions.

BILL: Conf 17-Banking Board
TIME: 02:12:15 PM
MOVED: Tate
MOTION: Refer the appointment of Jonathan Randall Fox to the Banking Board to the full Senate with a favorable recommendation and a recommendation that it be placed on the consent calendar. The motion passed on a vote of 3-0.
SECONDED:
VOTE
Court
Yes
Kerr
Excused
Tate
Yes
Hill
Excused
Neville T.
Yes
Final YES: 3 NO: 0 EXC: 2 ABS: 0 FINAL ACTION: PASS



















02:13 PM -- HB17-1157



Senator Priola, prime sponsor, presented House Bill 17-1157, which requires that a certificate of trust be provided for any bank transaction and expands the information that must be on a certificate of trust to include: a statement that the trust exists and the date the trust instrument was first executed; the identity of the settlor; the identity of the current trustee; the power of the trustee in the transaction; whether the trust is revocable and the identity of any person who can revoke the trust; the authority of cotrustees to sign and whether all the cotrustees are required to sign an order to exercise the powers of the trustees; and the name in which the title to trust property may be taken.



02:14 PM --
Jenifer Waller, representing the Colorado Bankers Association, testified in support of the bill.





02:19 PM



The bill was laid over until later in the meeting. The committee recessed.





02:24 PM -- HB17-1136



The committee reconvened. Senator Gardner, prime sponsor, presented House Bill 17-1136. Current law requires that taxpayers file certain taxes via electronic returns and remit certain tax payments via electronic funds transfer. HB 17-1136 makes this language permissive, removing the statutory requirement and authorizing the Department of Revenue to require electronic filing and funds transfer in rule instead.



02:26 PM --
Amber Egbert, representing the Department of Revenue, testified in support of the bill and responded to committee questions.

BILL: HB17-1136
TIME: 02:31:29 PM
MOVED: Hill
MOTION: Refer House Bill 17-1136 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
Court
Yes
Kerr
Yes
Tate
Yes
Hill
Yes
Neville T.
Yes
Final YES: 5 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: PASS





















02:32 PM -- HB17-1157

BILL: HB17-1157
TIME: 02:32:57 PM
MOVED:
MOTION: Refer House Bill 17-1157 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
Court
Yes
Kerr
Yes
Tate
Yes
Hill
Yes
Neville T.
Yes
Final YES: 5 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: PASS





02:33 PM



The committee adjourned.


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