I_LOCC_TPTF_2024A 08/15/2024 10:03:26 AM Committee Summary PUBLICSTAFF SUMMARY OF MEETINGINTERIM COMMITTEE LEGISLATIVE OVERSIGHT COMMITTEE CONCERNING TAX POLICY & TASK FORCE Date 08/15/2024 Attendance Frizell * Liston X Marshall X Mullica X Weissman X Hansen X Time 10:03:26 AM to 12:03:47 PM Place SCR 357 This Meeting was called to order by Hansen This Report was prepared by Katie Ruedebusch Hearing Items Action Taken hDivision of Insurance Committee Discussion Only hAlternative Transportation Tax Credit Committee Discussion Only hBusiness Personal Property Tax Committee Discussion Only hCommittee Discussion: OSA Additional Tax Expenditures & Tax Topics Committee Discussion Only hBill Draft Requests Committee Discussion Only Division of Insurance - Committee Discussion Only 10:04:52 AM Debra Judy, representing the Division of Insurance, provided the committee answers to several questions raised at the committee's July 29 meeting on the insurance premium tax. 10:08:40 AM Ms. Judy answered several committee questions. Alternative Transportation Tax Credit - Committee Discussion Only Attachment Tag File Name Attachment A http://www2.leg.state.co.us/CLICS/CLICS2024A/commsumm.nsf/0/75D93BA6AAC1...$File/Attachment A.pdf?OpenElement Attachment A.pdf 10:12:32 AM Meghan Dollar, representing the Colorado Chamber of Commerce, presented to the committee on the alternative transportation tax credit and business' experiences with the tax credit. Her presentation may be found in Attachment A. 10:14:23 AM She contined by highlighting several policy considerations on the continuation of the credit. 10:24:58 AM Josh Pens, representing the Department of Revenue, presented to the committee on the tax credit and the department's draft rules. 10:33:37 AM Mr. Pens answered several committee questions. Business Personal Property Tax - Committee Discussion Only Attachment Tag File Name Attachment B http://www2.leg.state.co.us/CLICS/CLICS2024A/commsumm.nsf/0/6A17089986D1...$File/Attachment B.pdf?OpenElement Attachment B.pdf 10:44:43 AM Meghan Dollar, representing the Colorado Chamber of Commerce, presented on the business personal property tax and businesses' experience with the business personal property income tax credit. The presentation may be found in Attachment B. 10:57:03 AM Michael Krueger, representing the Division of Property Taxation, presented to the committee on the business personal property tax and assessments. 11:04:25 AM Committee discussion with Mr. Krueger and Ms. Dollar continued. Committee Discussion: OSA Additional Tax Expenditures & Tax Topics - Committee Discussion Only 11:06:36 AM The committee discussed potential topics for study by OSA. Bill Draft Requests - Committee Discussion Only 11:09:55 AM Pierce Lively, Office of Legislative Legal Services, came to the table and discussed the interim committee deadlines. 11:10:35 AM Greg Sobetski, Legislative Council Staff, came to the table to discuss the fiscal notes process. 11:14:20 AM The committee discussed possible bill drafts. 11:55:15 AM Motion Move that committee draft 10 bills for consideration: 1. Adjustments and modifications to tax expenditures 2. Senior housing income tax credit 3. Business personal property tax credit and exemptions 4. Long-term care tax credit 5. Renter tax credit 6. Reacquisition of residency during active duty military service 7. Income tax credit for PERA benefits 8. Centralized tax credit and grant program database 9. Educator income tax credit 10. Business personal property tax modification Moved Weissman Seconded Frizell Yes Liston Yes Marshall Yes Mullica Yes Weissman Yes Hansen Yes YES: 6 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: PASS 12:03:47 PM The committee adjourned.
