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h_sa_2016a_2016-05-04t10:58:37z4 Hearing Summary

Date: 05/04/2016



Final

BILL SUMMARY for SB16-185



HOUSE COMMITTEE ON STATE, VETERANS, & MILITARY AFFAIRS


Votes: View--> Action Taken:
Adopt amendment L.001 (Attachment F) to Senate Bil

Postpone Senate Bill 16-185 indefinitely. The moti

Refer Senate Bill 16-185 to the Committee on Finan
FAIL

PASS

FAIL







12:46 PM -- SB16-185



Representative Melton, sponsor, presented Senate Bill 16-185 to the committee and provided a packet of information about the bill (Attachment E). This reengrossed bill requires the administrator of the Consumer Credit Code to adjust the financed dollar amounts for supervised loans and consumer credit sales issued by a Colorado lender based on the consumer price index for the Denver-Boulder-Greeley metropolitan statistical area. The administrator must adjust these amounts for inflation no later than January 1, 2017, and each January 1 thereafter.



16HouseState0504AttachE.pdf16HouseState0504AttachE.pdf



Representative Melton offered amendment L.001 (Attachment F) and discussed the amendment.



16HouseState0504AttachF.pdf16HouseState0504AttachF.pdf



12:59 PM --
Rich Jones, representing the Bell Policy Center, testified against the bill and provided a handout (Attachment G). He noted additional organizations opposed to the bill. He responded to committee member questions.



16HouseState0504AttachG.pdf16HouseState0504AttachG.pdf



01:12 PM --
Greg Glischinski, representing AARP Colorado, testified against the bill.



01:15 PM --
Michelle Webster, representing the Colorado Center on Law and Policy, testified against the bill.



01:24 PM --
Tim Gaudette, representing Small Business Majority, testified against the bill and provided a handout (Attachment H).



16HouseState0504AttachH.pdf16HouseState0504AttachH.pdf



01:28 PM --
Phil Hitz, representing OneMain Springleaf Financial Services, testified in support of the bill.



01:32 PM --
Julie Ann Meade, representing the Office of the Attorney General, testified on the bill and provided a handout (Attachment I).



16HouseState0504AttachI.pdf16HouseState0504AttachI.pdf



01:35 PM --
Rickie Keys, representing Renewal Financial, testified in support of the bill.

BILL: SB16-185
TIME: 01:38:10 PM
MOVED: Ryden
MOTION: Adopt amendment L.001 (Attachment F) to Senate Bill 16-185. The motion failed on a vote of 1-8.
SECONDED: Lontine
VOTE
Foote
No
Humphrey
No
Leonard
No
Neville P.
No
Primavera
No
Tyler
No
Wist
No
Lontine
No
Ryden
Yes
YES: 1 NO: 8 EXC: 0 ABS: 0 FINAL ACTION: FAIL





01:39 PM



Representative Melton wrapped up his presentation of the bill.

BILL: SB16-185
TIME: 01:41:04 PM
MOVED: Neville P.
MOTION: Refer Senate Bill 16-185 to the Committee on Finance. The motion failed on a vote of 4-5.
SECONDED: Leonard
VOTE
Foote
No
Humphrey
Yes
Leonard
Yes
Neville P.
Yes
Primavera
No
Tyler
No
Wist
Yes
Lontine
No
Ryden
No
YES: 4 NO: 5 EXC: 0 ABS: 0 FINAL ACTION: FAIL




BILL: SB16-185
TIME: 01:41:47 PM
MOVED: Lontine
MOTION: Postpone Senate Bill 16-185 indefinitely. The motion passed on a vote of 5-4.
SECONDED: Foote
VOTE
Foote
Yes
Humphrey
No
Leonard
No
Neville P.
No
Primavera
Yes
Tyler
Yes
Wist
No
Lontine
Yes
Ryden
Yes
Final YES: 5 NO: 4 EXC: 0 ABS: 0 FINAL ACTION: PASS







01:42 PM



The committee adjourned.




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