S_BLT_2016A 01/20/2016 02:01:04 PM Committee Summary
Final
STAFF SUMMARY OF MEETING
SENATE COMMITTEE ON BUSINESS, LABOR, & TECHNOLOGY
| Date: | 01/20/2016 |
ATTENDANCE
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| Time: | 02:01 PM to 02:38 PM |
Baumgardner
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X
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Heath
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X
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| Place: | SCR 352 |
Hodge
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X
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Jahn
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X
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| This Meeting was called to order by |
Neville T.
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X
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| Senator Holbert |
Newell
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*
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Tate
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X
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| This Report was prepared by |
Woods
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X
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| Jeanette Chapman |
Holbert
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X
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X = Present, E = Excused, A = Absent, * = Present after roll call
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| Bills Addressed: | Action Taken: | ||
| Committe Announcements SB16-014 |
Witness Testimony and/or Committee Discussion Only Amended, Referred to the Committee of the Whole - Consent Calendar |
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02:01 PM -- Committee Announcements
Senator Holbert welcomed members to the committee and discussed a few administrative items. Legislative Council Staff discussed the new research note product that will be available for certain bills during the legislative session.
02:11 PM -- SB 16-014
Senator Holbert introduced Senate Bill 16-014, concerning mortgage loan originators. The bill aligns state mortgage originator disclosure requirements with federal requirements by repealing select provisions of statute and replacing those with cross references to applicable federal statutes and rules, such as the federal Truth in Lending Act and the Real Estate Settlement Procedures Act of 1974. The bill also permits future rule-making by the state Board of Mortgage Loan Originators related to compliance to other applicable statutes and regulations.
02:14 PM -- Cary Whitaker, Colorado Mortgage Lenders Association, spoke in support of the bill. He responded to questions from the committee.
02:23 PM -- Marcia Waters, Division of Real Estate in the Department of Regulatory Agencies, responded to questions from the committee.
02:24 PM -- Jenifer Waller, Colorado Bankers Association, spoke in support of the bill.
02:26 PM -- Jayne Bail, Colorado Association of Mortgage Professionals, spoke in support of the bill.
02:28 PM -- Christine Jensen, representing herself, spoke in support of the bill.
02:30 PM -- Terry Jones, Colorado Mortgage Lenders Association, spoke in support of the bill.
| BILL: | SB16-014 | |
| TIME: | 02:34:12 PM | |
| MOVED: | Holbert | |
| MOTION: | Adopt amendment L.001 (Attachment A). The motion passed without objection. | |
| SECONDED: | ||
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VOTE
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Baumgardner
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Heath
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Hodge
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Jahn
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Neville T.
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Newell
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Tate
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Woods
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Holbert
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YES: 0 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: Pass Without Objection
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| BILL: | SB16-014 | |
| TIME: | 02:36:09 PM | |
| MOVED: | Holbert | |
| MOTION: | Refer Senate Bill 16-014, as amended, to the Committee of the Whole and with a recommendation that it be placed on the consent calendar. The motion passed on a vote of 9-0. | |
| SECONDED: | ||
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VOTE
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Baumgardner
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Yes
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Heath
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Yes
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Hodge
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Yes
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Jahn
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Yes
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Neville T.
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Yes
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Newell
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Yes
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Tate
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Yes
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Woods
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Yes
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Holbert
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Yes
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YES: 9 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: PASS
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02:38 PM
The committee adjourned.