F037C936B101F952872587F20077C940 Hearing Summary

PUBLIC
BILL SUMMARY For SB22-124

SENATE COMMITTEE ON FINANCE
Date Feb 23, 2022
Location Old Supreme Court

SB22-124 - Amended, referred to Senate Appropriations

Attachment Tag

File Name

Attachment

Attachment B.pdf

Attachment

Attachment C.pdf

Attachment

Attachment D.pdf

02:48:26 PM

Sens. Woodward and
Kolker introduced Senate Bill 22-124. The bill allows pass-through
businesses to elect to retroactively pay their state income tax at the
entity level, rather than the individual level, beginning in tax year 2018.
The sponsors answered some committee questions. Written testimony
may be found in Attachment B.

03:01:52 PM

Mr. Phil Horwitz,
representing himself, testified in support of the bill. Mr. Raymond Gonzales,
representing the Denver Metro Chamber of Commerce, testified in support
of the bill.

03:08:43 PM

Ms. Amber Egbert,
representing the Colorado Department of Revenue, testified in a neutral
position on the bill. She answered several committee questions.

03:09:18 PM

Sens. Woodward and
Kolker discussed some possible amendments and provided closing comments.

03:16:22 PM	Motion	Adopt amendment L.001 (Attachment C)
	Moved	Winter
	Seconded

	Donovan
	Hisey
	Lee
	Priola
	Scott
	Winter
	Bridges
		YES: 0 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: Pass Without Objection

03:17:08 PM	Motion	Adopt amendment L.002 (Attachment D)
	Moved	Winter
	Seconded

	Donovan
	Hisey
	Lee
	Priola
	Scott
	Winter
	Bridges
		YES: 0 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: Pass Without Objection

03:19:37 PM	Motion	Refer Senate Bill 22-124, as amended, to the Committee on Appropriations.
	Moved	Winter
	Seconded

	Donovan	Yes
	Hisey	Yes
	Lee	Yes
	Priola	Yes
	Scott	Yes
	Winter	Yes
	Bridges	Yes
	Final	YES: 7 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: PASS

SB22-124 - Amended, referred to Senate Appropriations

Colorado General Assembly