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s_fin_2016a_2016-03-31t11:03:14z0 Hearing Summary

Date: 03/31/2016



Final

BILL SUMMARY for HB16-1006



SENATE COMMITTEE ON FINANCE


Votes: View--> Action Taken:
Adopt Amendment L.006 (Attachment A). The motion p

Refer House Bill 16-1006, as amended, to the Commi
Pass Without Objection

PASS





The committee was called to order. A quorum was present.



11:03 AM -- HB16-1006



Senator Hill, prime sponsor, presented House Bill 16-1006. The bill, as amended by the House Finance Committee, clarifies current law sales, use, and property tax exemptions for subsidiaries of housing authorities. Under current law, housing authorities are exempt from any taxes or fees payable to the state, any subdivision thereof, and all levels of local government. The bill clarifies that sales, use, and property tax exemptions apply to low-income housing property owned by or leased to any subsidiary of a housing authority, including:

      an entity that is wholly owned by a housing authority;

      an entity in which a housing authority has an ownership interest; and

      an entity in which a subsidiary has an ownership interest.

Senator Hill distributed Amendment L.006 (Attachment A).



16SenateFin0331AttachA.pdf16SenateFin0331AttachA.pdf



11:05 AM --
Former Senator Penfield Tate, representing the Public Housing Authority, testified in support of the bill. Senator Tate addressed questions and comments from the committee.



11:10 AM --
Mr. Sam Betters, representing the Loveland Housing Authority, testified in support of the bill.



11:16 AM --
Mr. Charles Borgman, representing the Colorado Housing and Finance Authority, testified in support of the bill.



11:20 AM --
Mr. Paul Northrup, representing the Colorado Department of Revenue, testified in support of Amendment L.006.

BILL: HB16-1006
TIME: 11:21:09 AM
MOVED: Hill
MOTION: Adopt Amendment L.006 (Attachment A). The motion passed without objection.
SECONDED:
VOTE
Holbert
Johnston
Kerr
Hill
Neville T.
YES: 0 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: Pass Without Objection
BILL: HB16-1006
TIME: 11:21:29 AM
MOVED: Hill
MOTION: Refer House Bill 16-1006, as amended, to the Committee on Appropriations. The motion passed on a vote of 5-0.
SECONDED:
VOTE
Holbert
Yes
Johnston
Yes
Kerr
Yes
Hill
Yes
Neville T.
Yes
Final YES: 5 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: PASS










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