Location: LSB A
Final
BILL SUMMARY for HB16-1194
HOUSE COMMITTEE ON FINANCE
BILL SUMMARY for HB16-1194
HOUSE COMMITTEE ON FINANCE
| Votes: View--> | Action Taken: |
| Refer House Bill 16-1194 to the Committee on Appro | PASS |
Representative Court, chair, called the meeting to order. A quorum was present.
01:37 PM -- HB16-1194
Representatives Mitsch Bush and Becker, J., co-sponsors, introduced House Bill 16-1194. The bill creates an income tax deduction for taxpayers that lease an agricultural asset, defined as land, crops, livestock, livestock facilities, farm equipment, grain storage, or irrigation equipment, to a beginning farmer or rancher satisfying certain qualifications. The deduction is available for tax years 2017 through 2019 and is equal to 20 percent of the lease payment received from the beginning farmer or rancher for a lease of agricultural assets with a term of at least three years. Deductions are capped at $25,000 per taxpayer per tax year.
01:48 PM -- Mr. Jim Craig, representing United Veterans Committee of Colorado and Colorado Agrability, testified in support of the bill and answered committee questions.
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| BILL: | HB16-1194 | |
| TIME: | 01:56:33 PM | |
| MOVED: | Pabon | |
| MOTION: | Refer House Bill 16-1194 to the Committee on Appropriations. The motion passed on a vote of 10-1. | |
| SECONDED: | Becker K. | |
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VOTE |
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Becker K. |
Yes |
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Conti |
Yes |
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Garnett |
Yes |
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Kagan |
Yes |
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Pabon |
Yes |
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Roupe |
Yes |
|
Sias |
Yes |
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Van Winkle |
No |
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Wilson |
Yes |
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Foote |
Yes |
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Court |
Yes |
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Final YES: 10 NO: 1 EXC: 0 ABS: 0 FINAL ACTION: PASS
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