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h_bus_2017a_2017-03-09t13:31:49z2 Hearing Summary

Date: 03/09/2017

Location: LSB A

Final

BILL SUMMARY for SB17-124



HOUSE COMMITTEE ON BUSINESS AFFAIRS AND LABOR


Votes: View--> Action Taken:
Refer Senate Bill 17-124 to the Committee of the W PASS







02:11 PM -- SB 17-124



Representative Hooton and Representative Nordberg, sponsors, introduced Senate Bill 17-124. The bill, recommended by the Statutory Revision Committee, clarifies that an authorized fiduciary may not exercise decanting power between two trusts if the first trust grants the settlor or another person the power to cause the first trust to cease to be a grantor trust.



02:14 PM --
Letty Maxfield, Colorado Bar Association, testified in support of the bill. Ms. Maxfield responded to questions from the committee.



02:16 PM



The bill sponsors made closing comments.

BILL: SB17-124
TIME: 02:16:35 PM
MOVED: Nordberg
MOTION: Refer Senate Bill 17-124 to the Committee of the Whole. The motion passed on a vote of 13-0.
SECONDED: Van Winkle
VOTE
Arndt
Yes
Coleman
Yes
Garnett
Yes
Gray
Yes
Navarro
Yes
Nordberg
Yes
Rosenthal
Yes
Sias
Yes
Thurlow
Yes
Van Winkle
Yes
Williams D.
Yes
Winter
Yes
Kraft-Tharp
Yes
Final YES: 13 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: PASS














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