h_bus_2016a_2016-02-23t13:34:28z2 Hearing Summary
Date: 02/23/2016
Final
BILL SUMMARY for SB16-014
HOUSE COMMITTEE ON BUSINESS AFFAIRS AND LABOR
| Votes: View--> | Action Taken: |
| Adopt amendment L.002. The motion passed without o Refer Senate Bill 16-014, as amended, to the Commi |
Pass Without Objection PASS |
02:15 PM -- SB 16-014
Representative Williams, sponsor, introduced Senate Bill 16-014. The bill aligns state mortgage originator disclosure requirements with federal requirements by repealing select provisions of statute and replacing those with cross references to applicable federal statutes and rules, such as the federal Truth in Lending Act and the Real Estate Settlement Procedures Act of 1974. The bill also permits future rulemaking by the state Board of Mortgage Loan Originators related to compliance with other applicable statutes and regulations.
02:18 PM -- Cary Whitaker, Colorado Mortgage Lenders Association, testified in support of the bill. Mr. Whitaker discussed the proposed amendment L.002 (Attachment E).
160223 AttachE.pdf
02:22 PM -- Marcia Waters, Department of Regulatory Agencies Division of Real Estate, testified in support of the bill.
02:23 PM -- Jennifer Waller, Carbon Acres Association, testified in support of the bill.
02:24 PM
Representative Williams discussed amendment L.002.
| BILL: | SB16-014 | |
| TIME: | 02:25:04 PM | |
| MOVED: | Williams | |
| MOTION: | Adopt amendment L.002. The motion passed without objection. | |
| SECONDED: | Garnett | |
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VOTE
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Arndt
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Garnett
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Navarro
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Nordberg
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Pabon
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Rosenthal
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Roupe
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Sias
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Thurlow
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Winter
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Wist
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Kraft-Tharp
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Williams
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YES: 0 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: Pass Without Objection
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02:25 PM
Representative Williams made closing remarks.
| BILL: | SB16-014 | |
| TIME: | 02:25:46 PM | |
| MOVED: | Williams | |
| MOTION: | Refer Senate Bill 16-014, as amended, to the Committee of the Whole. The motion passed on a vote of 12-0. | |
| SECONDED: | Nordberg | |
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VOTE
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Arndt
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Yes
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Garnett
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Yes
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Navarro
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Yes
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Nordberg
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Yes
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Pabon
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Yes
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Rosenthal
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Yes
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Roupe
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Yes
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Sias
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Yes
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Thurlow
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Yes
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Winter
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Excused
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Wist
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Yes
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Kraft-Tharp
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Yes
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Williams
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Yes
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Final YES: 12 NO: 0 EXC: 1 ABS: 0 FINAL ACTION: PASS
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