51A8A9346D4E2505872588060072D4A7 Hearing Summary

Representatives Gray and Gonzales-Gutierrez, prime sponsors, presented SB 22-086, concerning assets exempted from seizure in certain proceedings, and, in connection therewith, expanding the amount and application of the homestead exemption to include personal property that is actually used as a residence, increasing the scope and amount of assets that may be exempted, adding certain new exemptions, recreating and increasing an exemption for money in depository accounts, and removing a requirement that a person must deposit and not commingle funds in order to render child support payments or unemployment benefits exempt from levy to pay a debt. Representative Gray explained the effect of the bill and discussed its need. Representative Gonzales-Gutierrez provided additional input on the bill.

Joseph Murr, representing Murr, Siler, and Accomazzo PC, testified in opposition to SB 22-086. Mr. Murr responded to questions regarding the value of homes in certain jurisdictions and how a lien on a home would be handled under the bill.

Karen Cody-Hopkins, representing herself, testified in support of SB 22-086. Ms. Cody-Hopkins responded to questions regarding the definition of "dwelling" in the bill, and how the homestead exemption works in bankruptcy, including medical bankruptcy.

Martha Fulford, representing the Department of Law, testified in support of SB 22-086. Jose Vasquez, representing Colorado Legal Services, testified on the bill from a neutral position. Arthur Scott, representing himself, testified in support of the bill. Mr. Scott responded to questions regarding the circumstances surrounding the bankruptcy of his business.

Jandrea Glenn, representing herself, testified in support of SB 22-086.

James Colby, representing himself, testified in support of the bill.

Jeanette Hensley, representing the Colorado Center on Aging, testified in support of the bill.

Randy Ship, representing himself, testified on SB 22-086 from an "amend" perspective.

Hope Stonner, representing the Colorado Consumer Health Initiative, testified in support of the bill.

Matthew Belle, representing himself, testified in support of the bill.

Don Bell, representing himself, testified in support of the bill.

Mr. Bell responded to questions regarding bankruptcy. Mr. Belle responded to questions regarding the potential for lenders to curtail lending to young persons should the homestead exemption increase.

Mr. Ship made additional comments about homeowner equity. Mr. Bell responded to questions regarding the history of the homestead exemption.

Guy Humphries, representing himself, testified in support of SB 22-086.

Tara Salinas, representing herself, testified in support of the bill.

No amendments were offered to SB 22-086. Representatives Gonzales-Gutierrez and Gray provided closing remarks in support of the bill. Various committee members provided their positions on the bill.