Bill Summary for Bill Number SB10-133

Date: 05/05/2010

Final
BILL SUMMARY for SB10-133

HOUSE COMMITTEE ON FINANCE

Votes: View-->	Action Taken:
Moved amendment L 010 (Attachment B). The motion Moved amendment L.012 (with drafter amendments)(At Moved to postpone Senate Bill 10-133 indefinitely. Refer Senate Bill 10-133, as amended, to the Commi	Pass Without Objection Pass Without Objection PASS FAIL

04:33 PM -- Senate Bill 10-133 - Concerning A State Income Tax Credit for Rehiring Employees

Representative Rice, prime sponsor, briefly explained that Senate Bill 10-133 creates a state income tax credit for tax year 2011 available to Colorado businesses that hire individuals who have been laid off and have been receiving unemployment benefits since March 31, 2010. The credit is equal to $1,000 for each hired employee. Businesses can only claim up to five credits each for a total of $5,000. Any credit amounts that exceed a taxpayer's income tax liability cannot be refunded to the taxpayer, but can be carried forward and used on future tax returns for five years.

The committee engaged in a brief discussion on whether the state income tax credit in the bill would generate jobs.


BILL:	SB10-133
TIME:	04:46:51 PM
MOVED:	Benefield
MOTION:	Moved amendment L 010 (Attachment B). The motion passed without objection by those members present.
SECONDED:	Benefield
		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:	SB10-133
TIME:	04:47:57 PM
MOVED:	Benefield
MOTION:	Moved amendment L.012 (with drafter amendments)(Attachment C). The motion passed without objection by those members present.
SECONDED:	Labuda
		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:	SB10-133
TIME:	04:53:38 PM
MOVED:	Frangas
MOTION:	Refer Senate Bill 10-133, as amended, to the Committee on Appropriations. The motion failed on a 6-5 vote.
SECONDED:	Kagan
		VOTE
	DelGrosso	No
	Frangas	Yes
	Gerou	Yes
	Kagan	Yes
	Kefalas	No
	Labuda	No
	Roberts	Yes
	Summers	Yes
	Swalm	No
	Benefield	No
	Judd	No

Not Final YES: 5 NO: 6 EXC: 0 ABS: 0 FINAL ACTION: FAIL


BILL:	SB10-133
TIME:	04:58:20 PM
MOVED:	Benefield
MOTION:	Moved to postpone Senate Bill 10-133 indefinitely. The motion passed on a 9-2 vote.
SECONDED:	Labuda
		VOTE
	DelGrosso	Yes
	Frangas	No
	Gerou	Yes
	Kagan	Yes
	Kefalas	Yes
	Labuda	Yes
	Roberts	No
	Summers	Yes
	Swalm	Yes
	Benefield	Yes
	Judd	Yes

Final YES: 9 NO: 2 EXC: 0 ABS: 0 FINAL ACTION: PASS