Date: 03/31/2009

Final
BILL SUMMARY for HB09-1301

SENATE COMMITTEE ON FINANCE

Votes: View--> Action Taken:
Refer House Bill 09-1301 to the Committee of the WPASS



02:30 PM -- House Bill 09-1301

Senator Sandoval, prime sponsor, presented House Bill 09-1301. This bill continuously appropriates monies from the Unclaimed Property Trust Fund to the Colorado state treasurer for the payment of contract auditor services. She explained that third party auditors are paid on contingency fee contracts and receive a percentage of what they collect. The claimants, she said, would still receive the value of the property they own. Senator Sandoval also explained that currently there is a cap on the amount that the auditors can collect, and that the bill is needed to address this issue.

The following persons testified on the bill:

02:32 PM --
Mr. Eric Rothaus, representing the Colorado Department of Treasury, responded to questions from the committee about the current level of appropriations, accounting, and reporting issues. He also responded to questions about individuals on the unclaimed property list and the percent that auditors receive from collections.

02:35 PM -- Ms. Patty White, representing the Colorado Department of Treasury, also responded to questions from the committee about third party auditing.


02:36 PM

Senator Heath closed public testimony.
BILL:HB09-1301
TIME: 02:36:45 PM
MOVED:Sandoval
MOTION:Refer House Bill 09-1301 to the Committee of the Whole with a recommendation that it be placed on the consent calendar. The motion passed 7-0.
SECONDED:
VOTE
Brophy
Yes
Heath
Yes
Isgar
Yes
King K.
Yes
Scheffel
Yes
Hudak
Yes
Sandoval
Yes
Final YES: 7 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: PASS


02:37 PM

The committee recessed.