S_FIN_2024A 02/29/2024 09:50:39 AM Committee Summary PUBLICSTAFF SUMMARY OF MEETINGSENATE COMMITTEE ON FINANCE Date 02/29/2024 Attendance Buckner X Hansen X Simpson X Smallwood X Van Winkle * Kolker X Mullica X Time 09:50:39 AM to 11:16:45 AM Place SCR 357 This Meeting was called to order by Mullica This Report was prepared by Matthew Becker Hearing Items Action Taken hHB24-1041 Referred to Senate Appropriations hHB24-1053 Referred to Senate Appropriations hSB24-102 Postponed Indefinitely hSB24-123 Amended, referred to Senate Appropriations HB24-1041 - Referred to Senate Appropriations 09:51:11 AM Senators Van Winkle and Bridges, co-prime sponsors, presented House Bill 24-1041, which allows the Department of Revenue to increase sales and use tax tax filing thresholds. 09:52:46 AM Ms. Pam Feely, representing Simplify Sales Tax Colorado, testified in support of the bill. 09:55:11 AM Michael Gifford, representing Associated General Contractors, testified in support of the bill. 09:57:23 AM Motion Refer House Bill 24-1041 to the Committee on Appropriations. Moved Kolker Seconded Buckner Yes Hansen Yes Simpson Yes Smallwood Yes Van Winkle Excused Kolker Yes Mullica Yes Final YES: 6 NO: 0 EXC: 1 ABS: 0 FINAL ACTION: PASS HB24-1053 - Referred to Senate Appropriations 09:57:59 AM Senators Hansen and Liston, co-prime sponsors, presented Houdr Bill 24-1053, which modifies the duties of the State Auditor related to evaluating tax expenditures, requires that the auditor evaluate the use of federal taxable income as the basis for state taxable income and the impact of federal tax law changes, and extends the Legislative Oversight Committee Concerning Tax Policy and associated task force. 10:02:07 AM Motion Refer House Bill 24-1053 to the Committee on Appropriations. Moved Hansen Seconded Buckner Yes Hansen Yes Simpson Yes Smallwood Yes Van Winkle Excused Kolker Yes Mullica Yes Final YES: 6 NO: 0 EXC: 1 ABS: 0 FINAL ACTION: PASS SB24-102 - Postponed Indefinitely Attachment Tag File Name Attachment http://www2.leg.state.co.us/CLICS/CLICS2024A/commsumm.nsf/0/341E4F491DE1...$File/Attachment A.pdf?OpenElement Attachment A.pdf 10:02:16 AM Senator Sullivan, prime sponsor, presented Senate Bill 24-102, which reduces taxation of premium cigars to 40 percent of the manufacturerâs list price. 10:04:21 AM Josh Pens, representing the Colorado Department of Revenue, responded to committee questions. 10:23:44 AM Mr. Jimmy Hargrove, representing themself, testified in support of the bill. 10:38:56 AM Eric Heydorn, representing American heart association, testified in opposition to the bill. 10:40:47 AM Mr. Nick Torres, representing American Lung Association, testified in opposition to the bill. 10:45:30 AM Mr. RJ Ours, representing American Cancer Society Cancer Action Network, testified in opposition to the bill. 10:48:07 AM Mr. Glynn Loope, representing Premium Cigar Association, testified in support of the bill. 10:51:20 AM Mr. Torres responded to committee questions. 11:02:35 AM Motion Adopt amendment L.001 (Attachment A). Moved Smallwood Seconded Buckner Hansen Simpson Smallwood Van Winkle Kolker Mullica YES: 0 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: Pass Without Objection 11:06:55 AM Senator Sullivan provided closing comments on the bill. 11:11:15 AM Motion Refer Senate Bill 24-102, as amended, to the Committee on Appropriations. Moved Kolker Seconded Buckner No Hansen No Simpson Yes Smallwood Yes Van Winkle Yes Kolker No Mullica No YES: 3 NO: 4 EXC: 0 ABS: 0 FINAL ACTION: FAIL 11:11:31 AM Motion Postpone Senate Bill 24-102 indefinitely using a reversal of the previous roll call. There was no objection to the use of the reverse roll call, therefore, the bill was postponed indefinitely. Moved Kolker Seconded Buckner Yes Hansen Yes Simpson No Smallwood No Van Winkle No Kolker Yes Mullica Yes Final YES: 4 NO: 3 EXC: 0 ABS: 0 FINAL ACTION: PASS SB24-123 - Amended, referred to Senate Appropriations Attachment Tag File Name Attachment http://www2.leg.state.co.us/CLICS/CLICS2024A/commsumm.nsf/0/4A0901CA1BE2...$File/Attachment B.pdf?OpenElement Attachment B.pdf Attachment http://www2.leg.state.co.us/CLICS/CLICS2024A/commsumm.nsf/0/5A28E8FC08D8...$File/Attachment C.pdf?OpenElement Attachment C.pdf 11:14:30 AM Motion Adopt amendment L.003 (Attachment B). Moved Hansen Seconded Buckner Hansen Simpson Smallwood Van Winkle Kolker Mullica YES: 0 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: Pass Without Objection 11:14:31 AM The committee heard testimony on Senate Bill 24-123 on February 22, 2024. 11:15:47 AM Motion Adopt amendment L.004 (Attachment C). Moved Hansen Seconded Buckner Hansen Simpson Smallwood Van Winkle Kolker Mullica YES: 0 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: Pass Without Objection 11:16:34 AM Motion Refer Senate Bill 24-123, as amended, to the Committee on Appropriations. Moved Hansen Seconded Buckner Yes Hansen Yes Simpson No Smallwood No Van Winkle No Kolker Yes Mullica Yes Final YES: 4 NO: 3 EXC: 0 ABS: 0 FINAL ACTION: PASS 11:16:45 AM The committee adjourned.
