s_lg_2016a_2016-04-12t14:01:46z1 Hearing Summary

Date: 04/12/2016

02:12 PM -- SB 16-177



Senators Martinez Humenik and Senator Heath, co-prime sponsors, discussed the provisions of Senate Bill 16-177 concerning modification to 2015 urban renewable legislation. The bill makes technical adjustments and clarifies recent legislation concerning urban renewal, urban renewal plans, and provisions for sharing tax increment financing (TIF) among affected taxing entities. Generally, this bill: replaces existing language with some common terms for describing municipal urban renewal boards and the various taxing entities affected by TIF; specifies conditions for using mediation to address disputes between municipal urban renewal boards and other taxing entities; and clarifies that recent legislation is not intended to jeopardize the existing financial obligations of an urban renewal board that remain outstanding as of December 2015.



The following persons testified on the bill:



02:15 PM -- Kevin Bommer, Colorado Municipal League, spoke in support of the bill. He also responded to questions from the committee about the bill and House Bill 15-1348.



02:20 PM -- David Spector, Chair of the Tax Increment Finance (TIF) Working Group, spoke in support of the bill. He also discussed the charge and activities of the working group that was appointed by the Governor in 2015 and identified its members.



02:25 PM -- Gini Pingenot, Colorado Counties, Inc., spoke in support of the bill.



02:26 PM -- Bruce Barker, Colorado Counties, Inc., spoke in support of the bill.



02:29 PM -- Evan Goulding, Special District Association of Colorado, spoke in support of the bill.



02:30 PM



The chair closed testimony and Senators Martinez Humenik and Senator Heath closed their remarks on the bill.

02:35 PM



The committee adjourned.