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First Regular Session | 75th General Assembly
Colorado General Assembly

PUBLIC
BILL SUMMARY For SB20-073

SENATE COMMITTEE ON EDUCATION
Date Jan 22, 2020       Location SCR 352

SB20-073 - Amended, referred to Senate Appropriations
11:15:00 AM  

The committee recessed.
11:21:55 AM  

The committee came back to order.  Senator Story, sponsor, presented Senate Bill 20-073, which concerns amendments to the state income tax deduction for contributions to a qualified 529 account to ensure that the state income tax deduction is not aligned with the changes in the federal "Tax Cuts and Jobs Act" of 2017 that allows tax-free distributions for elementary and secondary school expenses.  A handout from Taypayers for Public Education was distributed to the committee (Attachment B).  Senator Story distributed amendment L.002 (Attachment C) and a memorandum from Legislative Council Staff about the changes made by the amendment to the bill's fiscal impact (Attachment D).

11:27:49 AM  
Greg Sobetski, Legislative Council Staff, came to the table to speak about the amendment and memorandum (Attachments C and D). Senator Story answered questions from the committee.
11:34:57 AM  

The following people testified on the bill:
11:35:51 AM  

Carl Larson, representing the National Association of Insurance and Financial Advisors, testified in support of the bill if amended.  Mr. Larson answered questions from the committee.
11:37:51 AM  

Angela Baier, Executive Director of CollegeInvest, came to the table to answer questions from the committee.

11:47:22 AM
 Motion Adopt amendment L.002
Moved Story
Seconded
Bridges Yes
Hill No
Lundeen No
Story Yes
Todd Yes
YES: 3   NO: 2   EXC: 0   ABS:  0   FINAL ACTION:  PASS

11:47:57 AM
 Motion Refer Senate Bill 20-073, as amended, to the Committee on Appropriations.
Moved Story
Seconded
Bridges Yes
Hill No
Lundeen No
Story Yes
Todd Yes
Final YES: 3   NO: 2   EXC: 0   ABS:  0   FINAL ACTION:  PASS