h_fin_2017a_2017-02-01t10:13:31z0 Hearing Summary

Date: 02/01/2017

Location: LSB A

10:14 AM -- HB17-1016



The committee was called to order. A quorum was present. Representatives Saine and Gray, co-prime sponsors, presented House Bill 17-1016, which 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. Representatives Saine and Gray responded to questions from the committee about the bill and about the amendment adopted by the Senate Local Government Committee.



10:25 AM -- Mr. Michael Valdez, representing the Special Districts Association, testified in support of the bill.



10:27 AM -- Mr. Eric Sutherland, representing himself as a parent, testified in opposition to the bill. Mr. Sutherland, Representative Gray, and Representative Saine addressed questions and comments from the committee.





10:45 AM



Representatives Gray and Saine made closing remarks about the bill. Members of the committee commented on merits of the bill and on issues surrounding the use of TIF and URAs.