h_fin_2016a_2016-03-02t13:34:00z1 Hearing Summary

Date: 03/02/2016

02:55 PM -- HB16-1045



Representative Singer, sponsor, introduced House Bill 16-1045. The bill, recommended by the Early Childhood and School Readiness Legislative Commission, repeals the contingent start of the refundable Colorado child tax credit, allowing the credit to be claimed beginning in tax year 2016. Beginning in tax year 2016, qualifying taxpayers may claim a refundable state income tax credit equal to 30 percent, 15 percent, or 5 percent of the federal child tax credit depending on their federal adjustable gross income (AGI). The credit is capped for single filers at an AGI of $75,000, and for joint filers at an AGI of $85,000. Representative Singer distributed a handout (Attachment E) and amendment L.002 (Attachment F).



16HouseFin0302AttachE.pdf 16HouseFin0302AttachF.pdf



03:07 PM -- Ms. Krystin Stevenson, representing Colorado 9 to 5, came to the table to testify in support of the bill.



03:16 PM -- Ms. Thamanna Vasan, representing the Colorado Fiscal Institute, came to the table to testify in support of the bill. She distributed a handout to the committee (Attachment G). She answered several committee questions.



16HouseFin0302AttachG.pdf



03:20 PM -- Ms. Chaer Robert, representing the Colorado Center on Law and Policy, came to the table to testify in support of the bill. She answered committee questions.



03:24 PM -- Mr. Rich Jones, representing the Bell Policy Center, came to the table to testify in support of the bill. He answered committee questions. He distributed a handout to the committee (Attachment H).



16HouseFin0302AttachH.pdf



03:30 PM -- Mr. Eric Myers, representing DOR, came to the table to answer committee questions.

BILL:	HB16-1045
TIME:	03:46:06 PM
MOVED:	Court
MOTION:	Adopt amendment L.001 (Attachment I). The motion passed without objection. 16HouseFin0302AttachI.pdf
SECONDED:	Garnett
		VOTE
	Becker K.
	Conti
	Garnett
	Kagan
	Pabon
	Priola
	Roupe
	Van Winkle
	Wilson
	Foote
	Court
YES: 0 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: Pass Without Objection

BILL:	HB16-1045
TIME:	03:47:17 PM
MOVED:	Priola
MOTION:	Adopt amendment L.004 (Attachment J). The motion failed on a vote of 5-6. 16HouseFin0302AttachJ.pdf
SECONDED:	Roupe
		VOTE
	Becker K.	No
	Conti	Yes
	Garnett	No
	Kagan	No
	Pabon	No
	Priola	Yes
	Roupe	Yes
	Van Winkle	Yes
	Wilson	Yes
	Foote	No
	Court	No
YES: 5 NO: 6 EXC: 0 ABS: 0 FINAL ACTION: FAIL

03:57 PM



Committee discussion ensued.