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h_fin_2016a_2016-04-07t11:12:00z4 Hearing Summary

Date: 04/07/2016


BILL SUMMARY for HB16-1371


Votes: View--> Action Taken:
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12:05 PM -- HB16-1371

Representative Kagan, sponsor, introduced House Bill 16-1371. The bill allows taxpayers to determine how they receive their income tax refunds. Beginning with tax year 2016, the Department of Revenue (DOR) is required to provide taxpayers the opportunity to split their tax refund among up to four of the following methods:

1) paper check;

2) direct deposit into one or more savings accounts;

3) direct deposit into one or more checking accounts; and

4) direct deposit to one or more CollegeInvest savings accounts.

12:28 PM -- Mr. Duy Pham and Mr. Rich Jones, representing the Bell Policy Center, testified in support of the bill. They answered several questions from the committee.

12:36 PM -- Mr. Paul Northrup representing the Colorado Department of Revenue, came to the table to answer questions.

12:40 PM -- Ms. Ali Mickelson, representing the Colorado Fiscal Institute, testified in support of the bill. She answered several committee questions.

12:49 PM -- Ms. Courtney Sabine, representing the Piton Foundation, testified in support of the bill.

12:55 PM

The bill was laid over to a future date for action only.

12:57 PM

The committee adjourned.

The effective date for bills enacted without a safety clause is August 7, 2024, if the General Assembly adjourns sine die on May 8, 2024, unless otherwise specified. Details