CLICS/CLICS2022A/commsumm.nsf
PUBLIC
BILL SUMMARY For PRESENTATION OF TAX EXPENDITURE REPORTS FROM OFFICE OF THE STATE AUDITOR
INTERIM COMMITTEE LEGISLATIVE OVERSIGHT COMMITTEE CONCERNING TAX POLICY & TASK FORCE
Date Jul 18, 2022
Location SCR 357
Presentation of Tax Expenditure Reports from Office of the State Auditor - Committee Discussion Only
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10:48:16 AM |
Mr. Trey Standley,
Office of the State Auditor (OSA), introduced himself and gave a brief
overview of the OSA's presentation.
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10:49:43 AM |
The OSA started their
presentation (Attachment C) and gave an overview of the OSA process.
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10:54:29 AM |
Mr. Standley answered
questions from the committee on the OSA five year evaluation process and
current statutes.
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10:55:25 AM |
Mr. Stadley gave an overview of the tax expenditures by the OSA with policy considerations.
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11:01:43 AM |
Mr. Stadley answered questions from the committee about the tax expenditures reviewed by the OSA.
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11:07:31 AM |
Mr. Stadley gave an overview of the enterprise zone tax expenditures.
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11:13:28 AM |
Mr. Stadley answered
questions on zone designation and credits from the committee.
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11:21:28 AM |
Mr. Stadley gave
an overview of businesses and enterprise zone credits and answered questions
from the committee.
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12:35:13 PM |
The committee briefly recessed for lunch.
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12:39:42 PM |
The committee came
back to order. Ms. Meghan Westmoreland, Office of the State Auditor,
gave a brief overview of childcare contribution credit and recommendations
to the General Assembly.
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12:41:19 PM |
Ms. Westmoreland answered questions from the committee.
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12:47:34 PM |
Ms. Westmoreland gave a brief overview of corporate condemnation capital gains income tax deduction.
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12:56:08 PM |
Ms. Westmoreland answered questions from the committee.
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01:00:30 PM |
Mr. Dakota Peterson,
Office of the State Auditor, gave a brief overview of Colorado Alternative
Minimum Tax Credit.
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01:01:19 PM |
Mr. Peterson answered questions from the committee.
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01:04:48 PM |
Mr. Peterson gave
a brief overview of Downloaded Software Exemption.
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01:17:15 PM |
Mr. Peterson and Mr. Standley answered questions from the committee.
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01:24:46 PM |
Mr. Peterson gave a brief overview of the aircraft used in interstate commerce exemption.
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01:41:45 PM |
Mr. Peterson and Mr. Standley answered questions from the committee.
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01:42:09 PM |
Ms. Kim Tinnell and
Ms. Jacquelyn Combellick, Office of the State Auditor, presented on severance
taxes including oil and gas severance tax and ad valorem credit and stripper
wells.
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01:53:28 PM |
Ms. Tinnell answered questions about stripper wells.
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01:53:47 PM |
Ms. Tinnell gave
a brief overview of the evaluation of the impact assistance credits.
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01:56:44 PM |
The committee took
a brief recess.
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02:00:45 PM |
The committee came
back to order.
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02:09:43 PM |
Ms. Jacquelyn Combellick,
Office of the State Auditor, gave a brief overview of oil shale expenditures.
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02:10:38 PM |
Ms. Combellick answered questions from the committee.
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02:12:58 PM |
Ms. Combellick gave a brief overview of metallic minerals threshold exemption.
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02:14:37 PM |
Ms. Combellick answered questions from the committee.
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02:15:46 PM |
Ms. Combellick gave a brief overview of the metallic minerals ad valorem credit.
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02:24:10 PM |
Ms. Combellick answered questions from the committee.
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02:27:18 PM |
Ms. Combellick gave a brief overview of molybdenum ore tonnage exemption.
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02:33:20 PM |
The committee determined
that the Office of the State Auditor will finish their presentation on
insurance premium tax exemptions at the committee's meeting on August 12.
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