S_FIN_2017A 01/26/2017 Committee Summary

09:48 AM -- Department of Revenue Tax Expenditures Report



The committee was called to order. A quorum was present. Eric Hurley, Director of the Office of Research and Analysis, Department of Revenue, presented the department's 2016 Tax Profile and Expenditure Report. The report can be found online at: https://www.colorado.gov/pacific/sites/default/files/2016%20Tax%20Profile%20and%20Expenditure%20Report.pdf Committee members also received a summary of the report, prepared by the department (Attachment A). Mr. Hurley discussed the three major sections of the report: Colorado Expenditure Study, Colorado Tax Profile Study, and Colorado Individual and Corporate Statistics of Income.



17SenateFin0126AttachA.pdf



09:57 AM



Mr. Hurley responded to a committee question regarding the department's policy to protect the confidentiality of individual tax filers. He also discussed the reporting timeframe chosen for each of the three reports. Committee discussion ensued on updates to the reports.



























10:03 AM -- SB17-078



Senator Gardner, prime sponsor, presented Senate Bill 17-078, which treats storage units as residential property for property tax purposes if: the unit is owned as an individual condominium unit; its owner stores items related to the owner's residence; the unit is not used for storage related to a business; and the owner submits an affidavit to the county assessor that these conditions are met.



10:10 AM -- Keith Erffmeyer, representing the City and County of Denver and the Colorado Assessors' Association, testified in opposition to the bill. Mr. Erffmeyer responded to committee questions regarding how various facilities are classified for property taxation purposes. Committee discussion ensued on how properties can change classifications and how county assessors valuate residential and commercial property.



10:33 AM -- Dianne Criswell, representing the Colorado Municipal League, testified in opposition to the bill. Ms. Criswell discussed land use issues that could arise from the bill.



10:39 AM -- Glenn McWilliams and Mike Ard, representing Residential Storage Condominium Owners of Colorado, testified in support of the bill. Discussion ensued on the number and average cost of storage condos in Colorado, as well as the fiscal impact of the bill.



10:53 AM -- Larson Silbaugh, Legislative Council Staff, came to the table to discuss the fiscal note.





11:03 AM



Senator Gardner wrapped up his presentation of the bill. He also discussed Amendment L.001 (Attachment B).



17SenateFin0126AttachB.pdf

11:11 AM



The committee adjourned.