Date: 01/13/2009

Final
BILL SUMMARY for HB09-1030

HOUSE COMMITTEE ON BUSINESS AFFAIRS AND LABOR

Votes: View--> Action Taken:
Moved amendment L.001 (Attachment A). The motion
Moved to refer House Bill 09-1030, as amended, to 		Pass Without Objection
PASS



09:33 AM -- House Bill 09-1030

Representative Labuda, prime sponsor, presented House Bill 09-1030 concerning firefighter and police officer pension plan compliance with requirements set forth in the Internal Revenue Code. Recommended by the Police Officers' and Firefighters' Pension Reform Commission, this bill clarifies that old hire pension plans in Colorado must comply with the federal Internal Revenue Code. It eliminates specific statutory provisions intended to make the plans qualify under the code and grants the governing board of each affected entity the power to adopt any revisions necessary to comply.


The bill also allows the board of directors of the Fire and Police Pension Association (FPPA) of Colorado to create a model plan and submit it to the Internal Revenue Service (IRS) seeking a determination as to whether the model plan complies with the code. Each affected entity could then choose to adopt the model plan or seek IRS approval for its own old hire pension plan.

09:40 AM -- Kevin Lindahl, General Counsel for the FPPA, testified in support of House Bill 09-1030.
BILL:HB09-1030
TIME: 09:44:53 AM
MOVED:Soper
MOTION:Moved amendment L.001 (Attachment A). The motion passed without objection.

09HouseBus0113AttachA.pdf
SECONDED:Casso
VOTE
Balmer
Bradford
Gagliardi
Liston
Priola
Ryden
Scanlan
Soper
Stephens
Casso
Rice
Not Final YES: 0 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: Pass Without Objection
BILL:HB09-1030
TIME: 09:45:38 AM
MOVED:Soper
MOTION:Moved to refer House Bill 09-1030, as amended, to the Committee of the Whole. The motion passed 11-0.
SECONDED:Casso
VOTE
Balmer
Yes
Bradford
Yes
Gagliardi
Yes
Liston
Yes
Priola
Yes
Ryden
Yes
Scanlan
Yes
Soper
Yes
Stephens
Yes
Casso
Yes
Rice
Yes
Final YES: 11 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: PASS