Date: 02/24/2010

Final
BILL SUMMARY for HB10-1280

HOUSE COMMITTEE ON FINANCE

Votes: View--> Action Taken:
Moved amendment L.001 (Attachment G). The motion
Refer House Bill 10-1280, as amended, to the Commi
Refer House Bill 10-1280, as amended, to the Commi
Pass Without Objection
PASS
TIE
TIE



01:32 PM -- House Bill 10-1280 - Concerning an Incentive for Nonprofit Jobs

Representative Summers, prime sponsor, explained the provisions of the bill. He noted that for tax years 2011 through 2016, the bill establishes a state income tax credit for contributions to fund new jobs at Colorado nonprofit organizations. The credit is equal to 25 percent of the contribution. The total amount of credits that can be claimed by all taxpayers in one year is capped at $1 million. Any credit amount that exceeds a taxpayer's income tax liability cannot be refunded to the taxpayer, but may be carried forward and used on future tax returns for up to seven years.

The following persons testified:

01:46 PM -- Mr. Renny Fagan, Colorado NonProfit Association, testified in support of the bill and distributed a packet of materials on nonprofit organizations (Attachments D through F). He noted that nonprofit organizations provide essential services in every county in Colorado. He continued by pointing out that the bill provides an incentive to provide jobs that work to provide essential services. Mr. Fagan said that the economy has had a significant impact on nonprofit organizations and for many, they are seeing their demand for services increase while seeing donations drop. He closed by urging the committee to support the legislation.

10HseFin0224AttachD.pdf Attachment E can be viewed at State Archives Attachment F can be viewed at State Archives


02:06 PM -- Mr. Dave DeForest-Stalls, Big Brothers Big Sisters, testified in support of the bill.

02:12 PM

After committee discussion, the bill was placed on the table for action.

BILL:HB10-1280
TIME: 02:21:41 PM
MOVED:Summers
MOTION:Moved amendment L.001 (Attachment G). The motion passed without objection by those members present.

10HseFin0224AttachG.pdf
SECONDED:Roberts
VOTE
DelGrosso
Frangas
Gerou
Kagan
Kefalas
Labuda
Roberts
Summers
Swalm
Benefield
Judd
Not Final YES: 0 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: Pass Without Objection


BILL:HB10-1280
TIME: 02:28:30 PM
MOVED:Summers
MOTION:Refer House Bill 10-1280, as amended, to the Committee on Appropriations. The motion passed on a 7-4 vote.
SECONDED:Gerou
VOTE
DelGrosso
Yes
Frangas
No
Gerou
Yes
Kagan
Yes
Kefalas
Yes
Labuda
No
Roberts
Yes
Summers
Yes
Swalm
Yes
Benefield
No
Judd
No
Final YES: 7 NO: 4 EXC: 0 ABS: 0 FINAL ACTION: PASS