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s_fin_2018a_2018-05-03t11:07:20z5 Hearing Summary




PUBLIC
BILL SUMMARY For HB18-1385

SENATE COMMITTEE ON FINANCE
Date May 3, 2018      
Location SCR 352



HB18-1385 - Referred to the Committee of the Whole - Consent Calendar


12:37:03 PM  

Senator Coram, bill sponsor, presented House Bill 18-1385.  Under federal law, prior to December 2017, spousal maintenance also known as alimony, could be classified as deductible by the payor spouse for federal income tax purposes and as taxable income for the recipient spouse.  Colorado spousal maintenance and child support laws and guidelines are based on this and account for the expected payor deduction and payee taxes paid on maintenance received.  Under the federal Tax Cuts and Jobs Act of 2017, the payor spouse may not deduct spousal maintenance and spousal maintenance is not taxable income.  To reflect this federal change, this bill makes changes to the definitions of "gross income" and "adjusted gross income" and calculation guidelines.  The guideline calculation is adjusted down to ensure spousal maintenance or child support awarded does not factor in the payor deduction or payee taxes.  

 

12:38:02 PM  

Jerremy Ramp, Colorado Bar Association, testified in support of the bill.



12:39:55 PM
Motion Refer House Bill 18-1385 to the Committee of the Whole and with a recommendation that it be placed on the consent calendar.
Moved Smallwood
Seconded
Jahn Yes
Tate Excused
Zenzinger Yes
Smallwood Yes
Neville T. Yes
Final YES: 4   NO: 0   EXC: 1   ABS:  0   FINAL ACTION:  PASS