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First Regular Session | 75th General Assembly
Colorado General Assembly

PUBLIC
BILL SUMMARY For HB22-1149

HOUSE COMMITTEE ON FINANCE
Date Feb 28, 2022       Location HCR 0112

HB22-1149 - Amended, referred to House Appropriations
04:09:14 PM  
The committee took a brief recess.
04:19:09 PM  
The committee returned to order.  Representative Bird, sponsor, presented House Bill 22-1149.  This bill extends the Advanced Industry Investment Income Tax Credit Program for five income tax years (2023 through 2027) and increases the amount of state income tax credits from $750,000 to $4.0 million each year. If the full $4.0 million amount is not certified for allocation of the credit, it may be certified in future tax years. In addition, the bill increases the amount of the tax credit from 30 percent of qualified investments made in rural or economically distressed areas to 35 percent.
04:26:15 PM  
Mr. Jack Tiebaut, representing the Colorado Office of Economic Development and International Trade, joined the committee to respond to questions only. Mr. Ned Harvey, representing the Colorado Cleantech Industries Association, testified in support of the bill. Adam Burg, representing Denver Metro Chamber of Commerce & Colorado Competitive Council (C3), testified in support of the bill. Mrs. Elyse Blazevich, representing the Colorado BioScience Association, testified in support of the bill. The witnesses responded to questions from the committee.
04:44:33 PM  
The committee continued to discuss the bill with the witness panel.
04:51:18 PM  
Representative Bird distributed amendments L.001 (Attachment G) and L.002 (Attachment H).

04:52:49 PM
 Motion Adopt amendment L.001 (Attachment G).
Moved Bird
Seconded Kipp
Benavidez Yes
Daugherty Yes
Gray Yes
Kipp Yes
Luck No
Rich Yes
Sandridge No
McKean Excused
Tipper Yes
Snyder Yes
Bird Yes
YES: 8   NO: 2   EXC: 1   ABS:  0   FINAL ACTION:  PASS

04:53:16 PM
 Motion Adopt amendment L.002 (Attachment H).
Moved Bird
Seconded Kipp
Benavidez
Daugherty
Gray
Kipp
Luck
Rich
Sandridge
McKean Excused
Tipper
Snyder
Bird
YES: 0   NO: 0   EXC: 1   ABS:  0   FINAL ACTION:  Pass Without Objection
04:56:31 PM  
Members of the committee commented about their positions on the bill.

04:58:03 PM
 Motion Refer House Bill 22-1149, as amended, to the Committee on Appropriations.
Moved Bird
Seconded Gray
Benavidez Yes
Daugherty Yes
Gray Yes
Kipp Yes
Luck No
Rich Yes
Sandridge No
McKean Excused
Tipper Yes
Snyder Yes
Bird Yes
Final YES: 8   NO: 2   EXC: 1   ABS:  0   FINAL ACTION:  PASS