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h_sa_2016a_2016-05-09t14:34:12z5 Hearing Summary

Date: 05/09/2016



Final

BILL SUMMARY for HB16-1468



HOUSE COMMITTEE ON STATE, VETERANS, & MILITARY AFFAIRS


Votes: View--> Action Taken:
Refer House Bill 16-1468 to the Committee of the W PASS







04:37 PM -- HB16-1468



The committee reconvened.



Representative K. Becker and Speaker of the House Hullinghorst, co-prime sponsors, presented House Bill 16-1468 to the committee. Pursuant to the Colorado Supreme Court's April 26, 2016, decision in BP America v. Colorado Department of Revenue, oil and gas producers may deduct any costs for transportation, manufacturing, and processing when valuing severed minerals for tax purposes. Beginning tax year 2016, the bill allows producers to deduct only their direct costs for the transportation, manufacturing, and processing of identifiable and measurable oil and gas.



Committee members discussed the bill with the sponsors.



04:55 PM --
Stan Dempsey and Travis Holland, representing the Colorado Petroleum Association, testified against the bill and responded to committee member questions.



05:20 PM --
Matt Samelson, representing Western Environmental Law Partners and Conservation Colorado, testified on the bill and responded to committee member questions.





05:25 PM



Representative Becker and Speaker Hullinghorst made concluding comments on the bill.

BILL: HB16-1468
TIME: 05:35:05 PM
MOVED: Lontine
MOTION: Refer House Bill 16-1468 to the Committee of the Whole. 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







05:36 PM



The committee adjourned.




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