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H_FIN_2017A 03/01/2017 Committee Summary

Final

STAFF SUMMARY OF MEETING



HOUSE COMMITTEE ON FINANCE

Date: 03/01/2017
ATTENDANCE
Time: 10:26 AM to 01:14 PM
Beckman
X
Benavidez
X
Place: LSB A
Catlin
*
Covarrubias
X
This Meeting was called to order by
Gray
X
Representative Pabon
Herod
X
Kennedy
X
This Report was prepared by
Lawrence
*
Kori Donaldson
Michaelson Jenet
X
Thurlow
X
Van Winkle
X
Foote
*
Pabon
X
X = Present, E = Excused, A = Absent, * = Present after roll call
Bills Addressed: Action Taken:
HB17-1091

HB17-1090

HB17-1144
Amended, Referred to House Appropriations

Referred to House Appropriations

Referred to the Committee of the Whole





10:26 AM -- HB17-1091



The committee was called to order. A quorum was present. Representative Wilson, prime sponsor, presented House Bill 17-1091. As amended in the House Business and Labor Committee, this bill creates an income tax credit for taxpayers who provide donations to non-profit sponsors of employer-assisted housing projects in rural areas of the state for tax years 2018 through 2021. The credit is calculated as 50 percent of the amount donated to a sponsor to be used for costs associated with employer-assisted housing projects for employees with adjusted incomes of less than 120 percent of area median household income. The credit is nonrefundable, meaning it is limited to the taxpayer's income tax liability. Any remaining credits may be carried forward for up to five years.



Committee members received a memorandum assessing the fiscal impact of proposed amendment L.002 (Attachment A). Representative Wilson explained amendment L.002 (included in Attachment A). He responded to questions from the committee.



17HouseFin0301AttachA.pdf17HouseFin0301AttachA.pdf



10:45 AM --
Mr. Wendell Pryor, representing the Chaffee County Economic Development Corporation, testified in support of the bill. Mr. Pryor responded to earlier questions raised by the committee.

















11:00 AM



Mr. Pryor continued to address questions from the committee. Representative Wilson also responded to committee questions.





11:15 AM



Mr. Pryor continued to address questions from the committee. Representative Wilson also responded to committee questions.



11:21 AM --
Ms. Stefka Fanchi, representing the Colorado Rural Schools Alliance, and Ms. Michelle Murphy representing Habitat for Humanity, testified in support of the bill and responded to questions from the committee.



11:34 AM --
Mr. Phil Ross, representing himself, testified in support of the bill.





11:39 AM



Representative Wilson responded to committee questions.



11:41 AM --
Ms. Amber Egbert, representing the Department of Revenue, and Mr. Bruce Eisenhauer, representing the Department of Local Affairs, responded to committee questions.































































11:52 AM



Representative Wilson explained amendment L.002.

BILL: HB17-1091
TIME: 11:52:32 AM
MOVED: Van Winkle
MOTION: Adopt amendment L.002 (see Attachment A). The motion passed without objection.
SECONDED: Lawrence
VOTE
Beckman
Benavidez
Catlin
Covarrubias
Gray
Herod
Kennedy
Lawrence
Michaelson Jenet
Thurlow
Van Winkle
Foote
Pabon
YES: 0 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: Pass Without Objection























































11:55 AM



Representative Wilson made closing remarks on the bill and members of the committee commented on the merits of the bill.

BILL: HB17-1091
TIME: 12:09:48 PM
MOVED: Herod
MOTION: Refer House Bill 17-1091, as amended, to the Committee on Appropriations. The motion passed on a vote of 9-4.
SECONDED: Catlin
VOTE
Beckman
No
Benavidez
No
Catlin
Yes
Covarrubias
Yes
Gray
No
Herod
Yes
Kennedy
Yes
Lawrence
No
Michaelson Jenet
Yes
Thurlow
Yes
Van Winkle
Yes
Foote
Yes
Pabon
Yes
Final YES: 9 NO: 4 EXC: 0 ABS: 0 FINAL ACTION: PASS





12:11 PM -- HB17-1090



Representatives Kraft-Tharp and Wilson, co-prime sponsors, presented House Bill 17-1090, which extends the Advanced Industry Investment Income Tax Credit Program through tax years 2018 to 2022. The bill authorizes the Office of Economic Development and International Trade in the Governor's Office (OEDIT) to issue $1.5 million worth of state income tax credits each year to qualified investors.



12:16 PM --
Ms. Lindsey Cookson, representing herself, testified in opposition to the bill and responded to questions from the committee.



12:21 PM --
Mr. Jeff Kraft, representing OEDIT, testified in support of the bill.



12:27 PM --
Ms. April Giles, representing the Colorado Bioscience Association, testified in support of the bill.



















12:31 PM --
Ms. Chris Shepard, representing the Colorado Cleantech Industries Association, testified in support of the bill.





12:35 PM



Ms. Giles and Mr. Kraft responded to questions from the committee. Representative Kraft-Tharp also answered committee questions.



12:50 PM --
Mr. Patrick Boyle, representing the Colorado Competitive Council, testified in support of the bill.



12:53 PM --
Ms. Elyse Blazevich, representing Securisyn Medical, testified in support of the bill.



12:56 PM --
Ms. Sam Bailey, representing the Jefferson County Economic Development Corporation, testified in support of the bill.





12:57 PM



Mr. Boyle, Ms. Blazevich, and Mr. Bailey responded to questions from the committee.







































































01:00 PM



Representative Wilson commented on earlier witness testimony. Representatives Wilson and Kraft-Tharp made closing remarks on the bill.

BILL: HB17-1090
TIME: 01:03:35 PM
MOVED: Kennedy
MOTION: Refer House Bill 17-1090 to the Committee on Appropriations. The motion passed on a vote of 11-2.
SECONDED: Gray
VOTE
Beckman
Yes
Benavidez
No
Catlin
Yes
Covarrubias
Yes
Gray
Yes
Herod
Yes
Kennedy
Yes
Lawrence
Yes
Michaelson Jenet
Yes
Thurlow
Yes
Van Winkle
No
Foote
Yes
Pabon
Yes
Final YES: 11 NO: 2 EXC: 0 ABS: 0 FINAL ACTION: PASS

















































01:10 PM -- HB17-1144



Representative Esgar, prime sponsor, presented House Bill 17-1144, which changes how depreciation equivalent payments from cash fund sources are recorded by state departments.

BILL: HB17-1144
TIME: 01:13:22 PM
MOVED: Gray
MOTION: Refer House Bill 17-1144 to the Committee of the Whole. The motion passed on a vote of 12-0.
SECONDED: Beckman
VOTE
Beckman
Yes
Benavidez
Yes
Catlin
Yes
Covarrubias
Yes
Gray
Yes
Herod
Yes
Kennedy
Yes
Lawrence
Yes
Michaelson Jenet
Yes
Thurlow
Yes
Van Winkle
Excused
Foote
Yes
Pabon
Yes
Final YES: 12 NO: 0 EXC: 1 ABS: 0 FINAL ACTION: PASS





01:14 PM



The committee adjourned.


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