9D81C9946E66A59E87258281006320EF Hearing Summary CLICS/CLICS2018A/commsumm.nsf PUBLICBILL SUMMARY For SB18-061HOUSE COMMITTEE ON STATE, VETERANS, & MILITARY AFFAIRSDate May 2, 2018 Location RM 271 SB18-061 - Postponed Indefinitely 12:02:46 PM Representative Lawrence, bill sponsor, presented Senate Bill 18-061. For tax year 2018 and all subsequent years, the bill reduces the state income tax rate from 4.63 percent to 4.43 percent. The bill also reduces the alternative minimum tax rate from 3.47 percent to 3.27 percent and reduces the percentage of the federal alternative minimum tax credit allowed to Colorado alternative minimum taxpayers from 12.0 percent to 11.8 percent. Additionally, the income tax rate used in years when the income tax rate reduction TABOR refund mechanism is triggered is reduced from 4.50 percent to 4.305615346 percent. 12:07:36 PM Represenative Lawrence made concluding remarks regarding the bill. Committee members commented on the bill. 12:13:09 PM Motion Refer Senate Bill 18-061 to the Committee on Finance. Moved Williams D. Seconded Leonard Benavidez No Hooton No Humphrey Yes Leonard Yes Melton Excused Weissman No Williams D. Yes Lontine No Foote No YES: 3 NO: 5 EXC: 1 ABS: 0 FINAL ACTION: FAIL 12:13:25 PM Motion Postpone Senate Bill 18-061 indefinitely using a reversal of the previous roll call. There was no objection to the use of the reverse roll call, therefore, the bill was postponed indefinitely. Moved Weissman Seconded Lontine Benavidez Yes Hooton Yes Humphrey No Leonard No Melton Excused Weissman Yes Williams D. No Lontine Yes Foote Yes Final YES: 5 NO: 3 EXC: 1 ABS: 0 FINAL ACTION: PASS