Bill Summary for Bill Number HB10-1285

Date: 04/14/2010

Final
BILL SUMMARY for HB10-1285

HOUSE COMMITTEE ON FINANCE

Votes: View-->	Action Taken:
Moved amendment L.002 (Attachment C). The motion Refer House Bill 10-1285, as amended, to the Commi	Pass Without Objection PASS

01:39 PM -- House Bill 10-1285 - Concerning Higher Fees on Commercial Class A Motor Vehicles

Representative Priola, prime sponsor, explained that House Bill 10-1285 raises the fines on commercial motor vehicles and uses the additional fine revenue to fund an existing sales tax refund and income tax credit for commercial investment in Colorado. He continued saying that neither tax incentive is available because they are conditional upon the executive director of the Department of Revenue providing written notice to the revisor of statues that a sustainable revenue source has been identified to pay for them. To date, a sustainable source of revenue has not been identified.

Representative Priola distributed Amendment L.002 (Attachment C) and a staff memorandum on the fiscal impact of the amendment (Attachment D). He noted that as amended by L.002, the bill caps the tax incentives at the amount of new fine revenue generated by the bill, thereby providing a sustainable revenue source for the incentives. The amendment also limits each tax incentive to truck tractors or semitrailers with a gross weight rating of fifty-four thousand pounds or greater designated as Class A personal property.

The following persons testified:

01:56 PM -- Mr. Greg Fulton, representing Colorado Motor Carriers Association, testified in support of the bill and distributed a handout on truck tractor registrations to the committee (Attachment E).

02:33 PM -- Mr. Jim Niedringhaus, representing MHC KenWorth, testified in support of the bill and discussed the jobs it would bring to Colorado.

02:37 PM -- Mr. Larry Wolf, representing HVH Transportation, testified in support of the bill.

02:40 PM -- Mr. Bruce Biggi, representing the City of Greeley and who is also the Economic Development Manager for the city, testified in support of the bill.


BILL:	HB10-1285
TIME:	02:45:11 PM
MOVED:	Gerou
MOTION:	Moved amendment L.002 (Attachment C). The motion passed without objection by those members present.
SECONDED:	DelGrosso
		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:	HB10-1285
TIME:	02:46:09 PM
MOVED:	Gerou
MOTION:	Refer House Bill 10-1285, as amended, to the Committee on Appropriations. The motion passed on a 9-2 vote.
SECONDED:	DelGrosso
		VOTE
	DelGrosso	Yes
	Frangas	Yes
	Gerou	Yes
	Kagan	Yes
	Kefalas	Yes
	Labuda	No
	Roberts	Yes
	Summers	Yes
	Swalm	Yes
	Benefield	No
	Judd	Yes

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