Bill Summary for Bill Number HB10-1429

Date: 04/30/2010

Final
BILL SUMMARY for HB10-1429

HOUSE COMMITTEE ON FINANCE

Votes: View-->	Action Taken:
Moved amendment L.001 (Attachment B). The motion Moved amendment L.003 (Attachment C). The motion Refer House Bill 10-1429, as amended, to the Commi	Pass Without Objection TIE PASS

01:54 PM -- House Bill 10-1429 - Concerning the Legislative Review of Tax Benefits

Representative Weissmann, prime sponsor, explained that House Bill 10-1429 requires the Joint Finance Committee to conduct annual meetings to review certain state tax benefits and to determine whether they should be continued, repealed, or modified. The meetings can occur during the legislative session or during the interim if approved by the Executive Committee of the Legislative Council.

The committee discussed the flexibility that would be given to Legislative Council Staff (LCS) to provide the legislature information on the tax incentives available to individuals and corporations in the state.
The following persons testified:

02:40 PM -- Mr. Tom Clark, representing the Metro Denver Economic Development Corporation, testified in opposition toward the bill. Mr. Clark closed by noting that secondary and indirect impacts are important to the comprehensive analysis of any tax incentives that are evaluated.

02:50 PM -- Mr. Tony Gagliardi, representing the National Federation of Independent Business (NFIB), testified in opposition to the bill and noted that the legislation would have an adverse impact on business in the state. He closed by saying that a comprehensive study of business and fiscal policy is needed.

02:56 PM -- Mr. Jim Cole, representing the Colorado Oil and Gas Association, testified in opposition to the bill.

03:05 PM -- Ms. Rhonda Sparlin, representing Pricewaterhouse Coopers, and Ms. Loren Furman, representing the Colorado Association of Commerce and Industry (CACI), testified in opposition to the bill.

03:35 PM -- Ms. Dianna Orf, representing the Colorado Mining Association, testified in opposition to the bill and noted that it would destabilize tax policy.

03:41 PM -- Mr. Troy Bredenkamp, representing the Colorado Farm Bureau, testified in opposition to the bill.

03:47 PM -- Ms. Ali Mickelson, representing the Colorado Fiscal Policy Institute, testified in support of the bill and distributed a handout to the committee (Attachment A).


BILL:	HB10-1429
TIME:	03:55:37 PM
MOVED:	Kefalas
MOTION:	Moved amendment L.001 (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:	HB10-1429
TIME:	03:56:59 PM
MOVED:	Frangas
MOTION:	Moved amendment L.003 (Attachment C). The motion failed on a 5-5 vote, with one excused.
SECONDED:	Judd
		VOTE
	DelGrosso	No
	Frangas	Yes
	Gerou	No
	Kagan	Yes
	Kefalas	No
	Labuda	No
	Roberts	Excused
	Summers	Yes
	Swalm	No
	Benefield	Yes
	Judd	Yes

Not Final YES: 5 NO: 5 EXC: 1 ABS: 0 FINAL ACTION: TIE


BILL:	HB10-1429
TIME:	04:00:37 PM
MOVED:	Benefield
MOTION:	Refer House Bill 10-1429, as amended, to the Committee of the Whole. The motion passed on a 6-4 vote, with one excused.
SECONDED:	Labuda
		VOTE
	DelGrosso	No
	Frangas	Yes
	Gerou	No
	Kagan	Yes
	Kefalas	Yes
	Labuda	Yes
	Roberts	Excused
	Summers	No
	Swalm	No
	Benefield	Yes
	Judd	Yes

Final YES: 6 NO: 4 EXC: 1 ABS: 0 FINAL ACTION: PASS

04:20 PM

Adjourn.