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h_bus_2017a_2017-02-28t13:30:11z2 Hearing Summary

Date: 02/28/2017

Location: LSB A

Final

BILL SUMMARY for SB17-127



HOUSE COMMITTEE ON BUSINESS AFFAIRS AND LABOR


Votes: View--> Action Taken:
Refer Senate Bill 17-127 to the Committee of the W PASS







03:29 PM -- SB 17-127



Representative Pabon, sponsor, introduced Senate Bill 17-127. Under current law, parents who help to finance a child's mortgage loan are exempt from the mortgage loan originator regulations in state law. The bill expands the exemption to include any family member who helps to finance another family member for up to three loans per year, with or without interest compensation. The Board of Mortgage Loan Originators in the Department of Regulatory Agencies is directed to define "family member" by rule.



03:33 PM --
Dan Sweetser, Colorado Bar Association, testified in support of the bill.



03:36 PM



Representative Pabon made closing remarks.

BILL: SB17-127
TIME: 03:36:12 PM
MOVED: Gray
MOTION: Refer Senate Bill 17-127 to the Committee of the Whole. The motion passed on a vote of 10-0.
SECONDED: Williams D.
VOTE
Arndt
Yes
Coleman
Yes
Garnett
Excused
Gray
Yes
Navarro
Yes
Nordberg
Yes
Rosenthal
Excused
Sias
Yes
Thurlow
Yes
Van Winkle
Yes
Williams D.
Yes
Winter
Excused
Kraft-Tharp
Yes
Final YES: 10 NO: 0 EXC: 3 ABS: 0 FINAL ACTION: PASS







03:38 PM



The committee adjourned.










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