47469759D9A2A47E872587F7007F747A Hearing Summary CLICS/CLICS2022A/commsumm.nsf PUBLICBILL SUMMARY For HB22-1149HOUSE COMMITTEE ON FINANCEDate Feb 28, 2022 Location HCR 0112 HB22-1149 - Amended, referred to House Appropriations Attachment Tag File Name Attachment http://www2.leg.state.co.us/CLICS/CLICS2022A/commsumm.nsf/0/1ADA1ED84ED6...$File/HB1149_L.001 Attachment G.pdf?OpenElement HB1149_L.001 Attachment G.pdf Attachment http://www2.leg.state.co.us/CLICS/CLICS2022A/commsumm.nsf/0/C3CC715C0672...$File/HB1149_L.002 Attachment H.pdf?OpenElement HB1149_L.002 Attachment H.pdf 04:09:14 PM The committee took a brief recess. 04:19:09 PM The committee returned to order. Representative Bird, sponsor, presented House Bill 22-1149. This bill extends the Advanced Industry Investment Income Tax Credit Program for five income tax years (2023 through 2027) and increases the amount of state income tax credits from $750,000 to $4.0 million each year. If the full $4.0 million amount is not certified for allocation of the credit, it may be certified in future tax years. In addition, the bill increases the amount of the tax credit from 30 percent of qualified investments made in rural or economically distressed areas to 35 percent. 04:26:15 PM Mr. Jack Tiebaut, representing the Colorado Office of Economic Development and International Trade, joined the committee to respond to questions only. Mr. Ned Harvey, representing the Colorado Cleantech Industries Association, testified in support of the bill. Adam Burg, representing Denver Metro Chamber of Commerce & Colorado Competitive Council (C3), testified in support of the bill. Mrs. Elyse Blazevich, representing the Colorado BioScience Association, testified in support of the bill. The witnesses responded to questions from the committee. 04:44:33 PM The committee continued to discuss the bill with the witness panel. 04:51:18 PM Representative Bird distributed amendments L.001 (Attachment G) and L.002 (Attachment H). 04:52:49 PM Motion Adopt amendment L.001 (Attachment G). Moved Bird Seconded Kipp Benavidez Yes Daugherty Yes Gray Yes Kipp Yes Luck No Rich Yes Sandridge No McKean Excused Tipper Yes Snyder Yes Bird Yes YES: 8 NO: 2 EXC: 1 ABS: 0 FINAL ACTION: PASS 04:53:16 PM Motion Adopt amendment L.002 (Attachment H). Moved Bird Seconded Kipp Benavidez Daugherty Gray Kipp Luck Rich Sandridge McKean Excused Tipper Snyder Bird YES: 0 NO: 0 EXC: 1 ABS: 0 FINAL ACTION: Pass Without Objection 04:56:31 PM Members of the committee commented about their positions on the bill. 04:58:03 PM Motion Refer House Bill 22-1149, as amended, to the Committee on Appropriations. Moved Bird Seconded Gray Benavidez Yes Daugherty Yes Gray Yes Kipp Yes Luck No Rich Yes Sandridge No McKean Excused Tipper Yes Snyder Yes Bird Yes Final YES: 8 NO: 2 EXC: 1 ABS: 0 FINAL ACTION: PASS