Date: 02/01/2010

Final
BILL SUMMARY for HB10-1040

HOUSE COMMITTEE ON EDUCATION

Votes: View--> Action Taken:
Moved amendment L.001 (Attachment B). The motion
Moved to refer House Bill 10-1040, as amended, to 		Pass Without Objection
PASS



03:03 PM -- House Bill 10-1040

Representative A. Kerr, sponsor of House Bill 10-1040, concerning CollegeInvest lifelong learning savings accounts, presented the bill to the committee. He responded to questions from the committee regarding senate sponsorship, the bill's safety clause, and the target audience for who might open up this type of savings plan.


03:12 PM

The following people testified on the bill:

03:12 PM -- Janet Gullickson, representing CollegeInvest, testified in support of the bill and responded to questions from the committee regarding: CollegeInvest's marketing plan for this program; income caps for program eligibility; what happens to unexpended funds in 529 savings accounts; and restrictions on the usage of funds.

03:20 PM -- Frank Waterous, representing the Bell Policy Center, testified in support of the bill and shared a handout with the committee members (Attachment A).

10HseEd0201AttachA.pdf

03:22 PM -- Jerry Hulsizer, representing Always Best Care, testified in support of the bill and shared his experience as a business owner who manages a caregiver business. He noted how the bill might benefit his employees.

03:25 PM -- Clarke Becker, representing the Colorado Department of Labor and Employment and the Economic Development Council of Colorado, testified in support of the bill and noted the importance of a well-trained workforce.
BILL:HB10-1040
TIME: 03:29:08 PM
MOVED:Massey
MOTION:Moved amendment L.001 (Attachment B). The motion passed without objection.

10HseEd0201AttachB.pdf
SECONDED:Todd
VOTE
Benefield
Massey
McNulty
Middleton
Murray
Peniston
Scanlan
Schafer S.
Summers
Tipton
Todd
Solano
Merrifield
Not Final YES: 0 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: Pass Without Objection


03:30 PM

Representative A. Kerr concluded his remarks on the bill and asked for the committee's support.
BILL:HB10-1040
TIME: 03:32:03 PM
MOVED:Massey
MOTION:Moved to refer House Bill 10-1040, as amended, to the Committee on Finance. The motion passed on a 13-0 vote.
SECONDED:Middleton
VOTE
Benefield
Yes
Massey
Yes
McNulty
Yes
Middleton
Yes
Murray
Yes
Peniston
Yes
Scanlan
Yes
Schafer S.
Yes
Summers
Yes
Tipton
Yes
Todd
Yes
Solano
Yes
Merrifield
Yes
Final YES: 13 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: PASS