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h_fin_2017a_2017-05-08t12:12:58z1 Hearing Summary

Date: 05/08/2017

Location: LSB A

Final

BILL SUMMARY for SB17-287



HOUSE COMMITTEE ON FINANCE


Votes: View--> Action Taken:
Refer Senate Bill 17-287 to the Committee on Appro PASS







12:17 PM -- SB17-287



Representative Garnett, prime sponsor, presented Senate Bill 17-287, which creates an income tax credit for contributions made to an endowment of a Colorado charitable organization.



12:19 PM --
Former Representative Renny Fagan, representing the Colorado Nonprofit Association, testified in support of the bill.



12:24 PM --
Ms. Megan Ledin, representing the Grand Foundation, testified in support of the bill.



12:27 PM --
Ms. Joanne Kelley, representing the Colorado Association of Funders, testified in support of the bill.





12:33 PM



The witnesses answered committee questions.



12:35 PM --
Ms. Ali Mickelson, representing the Colorado Fiscal Institute, testified in opposition to the bill. Ms. Mickelson distributed a handout illustrating the adjusted gross income of Iowa households with endowment tax credit claims (Attachment B). She responded to committee questions. Representative Garnett also responded to committee questions.



17HouseFin0508AttachB.pdf17HouseFin0508AttachB.pdf



12:44 PM --
Ms. Amber Egbert, representing the Department of Revenue, came to the table to address questions from the committee.



12:46 PM --
Ms. Kate Watkins, Legislative Council Staff, came to the table to respond to questions about the bill's prepared fiscal note.





12:49 PM



Representative Garnett and members of the committee made closing remarks on the bill.

BILL: SB17-287
TIME: 12:52:31 PM
MOVED: Kennedy
MOTION: Refer Senate Bill 17-287 to the Committee on Appropriations. The motion passed on a vote of 8-5.
SECONDED: Herod
VOTE
Beckman
No
Benavidez
No
Catlin
Yes
Covarrubias
No
Gray
Yes
Herod
Yes
Kennedy
Yes
Lawrence
Yes
Michaelson Jenet
Yes
Thurlow
Yes
Van Winkle
No
Foote
No
Pabon
Yes
Final YES: 8 NO: 5 EXC: 0 ABS: 0 FINAL ACTION: PASS














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