s_lg_2017a_2017-02-21t14:01:03z1 Hearing Summary

Date: 02/21/2017

Location: SCR 354

02:08 PM -- HB 17-1016



Senator Martinez Humenik and Senator Zenzinger, co-prime sponsors, discussed the provisions of House Bill 17-1016 concerning an exclusion for the valuation of mineral extraction from the calculation of the tax increment financing (TIF) of an urban renewal authority. This bill allows the governing body of a municipality to exclude the valuation of mineral extraction from the calculation of the tax increment financing (TIF) of an urban renewal authority (URA). If a municipality elects to exclude this value, property taxes collected on mineral extraction in the URA are distributed to each taxing authority as if the approved urban renewal plan is not in effect.



The following person testified on the bill:



02:11 PM -- Bruce Nickerson, Firestone Town Manager, testified in favor of the bill. He responded to questions from the committee.



02:15 PM -- Samantha Meiring, Town of Firestone Trustee, Colorado Municipal League, spoke in support of the bill.



02:16 PM -- Michael Valdez, Special District Association of Colorado, testified in favor of the bill.



02:19 PM -- Barbara Kirkmeyer, Weld County Board of County Commissioners, Fort Lupton Urban Renewal Authority, Colorado Counties, Inc., spoke in support of the bill.



02:20 PM -- Eric Sutherland, representing himself, spoke in opposition to the bill and expressed concern about the impact of TIFs on school districts. He responded to questions from the committee about his concerns with the bill. He also discussed the implementation of HB 15-1348 concerning urban redevelopment.



02:33 PM



The chair closed testimony and Senator Zenzinger closed her remarks on the bill.