FC5B50813CA248908725889C005F1635 Hearing Summary CLICS/CLICS2022A/commsumm.nsf PUBLICBILL SUMMARY For OSA PRESENTATION ON TAX EXPENDITURE EVALUATION REPORTSINTERIM COMMITTEE LEGISLATIVE OVERSIGHT COMMITTEE CONCERNING TAX POLICY & TASK FORCEDate Aug 12, 2022 Location SCR 357 OSA Presentation on Tax Expenditure Evaluation Reports - Committee Discussion Only Attachment Tag File Name Attachment D http://www2.leg.state.co.us/CLICS/CLICS2022A/commsumm.nsf/0/826EA2215DF6...$File/Attachment D.pdf?OpenElement Attachment D.pdf 11:18:39 AM Mr. Trey Standley and Mr. James Taurman, representing the Office of the State Auditor, came to the table discuss the office's insurance premium tax expenditure evaluations. Their presentation may be found in Attachment D. 11:24:34 AM Mr. Taurman began by discussing insurance premium tax expenditures overall and the fraternal society exemption. 11:30:04 AM Mr. Taurman continued by discussing the evaluation of the tax-exempt organizations insurance premium tax deduction and the employee retirement plan insurance premium tax deduction. 11:36:45 AM Mr. Taurman highlighted the unauthorized insurance premium tax expenditures and several policy considerations. 11:37:59 AM Mr. Trey Standley, Office of the State Auditor, answered a committee question regarding legal analysis of whether a vote of the people is necessary for some unauthorized insurance premium tax expenditures. He also discussed certain reporting requirements. 11:43:59 AM Mr. Taurman continued by discussing the long term care insurance credit and the in-state investment pre-1969 premium tax deduction. 11:52:24 AM Mr. Taurman end his presentation by discussing the crop hail insurance premium tax expenditure. 11:52:50 AM The committee took a brief break.