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h_fin_2017a_2017-03-01t10:26:13z0 Hearing Summary

Date: 03/01/2017

Location: LSB A

Final

BILL SUMMARY for HB17-1091



HOUSE COMMITTEE ON FINANCE


Votes: View--> Action Taken:
Adopt amendment L.002 (see Attachment A). The moti

Refer House Bill 17-1091, as amended, to the Commi
Pass Without Objection

PASS







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












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