Date: 04/16/2013
Final
BILL SUMMARY for HB13-1287
HOUSE COMMITTEE ON BUSINESS, LABOR, ECONOMIC, & WORKFORCE DEVELOPMENT
| Votes: View--> | Action Taken: |
| Refer House Bill 13-1287 to the Committee on Appro | PASS |
01:36 PM -- House Bill 13-1287
The committee came back to order. Roll call was called; nine members were present and Representatives Szabo and Kraft-Tharp were excused. Representatives Primavera and DelGrosso, prime sponsors, presented House Bill 13-1287 to the committee. The bill extends to Colorado job growth incentive tax credit by an additional five income tax years. The sponsors discussed companies in the state who had benefitted from this tax incentive.
The following individuals testified on the bill:
01:46 PM -- Ken Lund and Michelle Hadwiger, representing the Office of Economic Development and International Trade (OEDIT), spoke in favor of the bill. Director Lund discussed the importance of this tool in promoting the state's economy. He stated that the incentive is performance-based and competitive. Ms. Hadwiger, Business Director for OEDIT, stated that incentive is one of the state's hallmark competitive advantages. She discussed a few recent case studies, with Woodward, Inc., and Visa. She stated that the bill offers very important consistency in the program. Representative DelGrosso discussed the different benchmarks for urban and rural areas. Representative Exum asked a question about a residency requirement for job creation.
01:55 PM -- Mike Fitzgerald, representing Denver South Economic Development Partnership, spoke in favor of the bill. He distributed a handout to the committee (Attachment D). He discussed the competitive economies in the state and nation.
130416 AttachD.pdf
01:57 PM -- Jon Alanis, representing himself, spoke against the bill. He stated that tax incentives are not a legitimate function of government and that tax credits misuse a state's scarce resources. Representative Rosenthal asked for the evidence that proves tax credits are not working.
02:00 PM -- Loren Furman, representing the Colorado Association of Commerce and Industry (CACI), spoke in favor of the bill. Ms. Furman stated that she was also authorized to speak on behalf of the Colorado Competitive Council (C3) in favor of the bill. She stated that it was an important jobs bill.
02:02 PM
Representatives Primavera and DelGrosso made closing comments.
 | |
| BILL: | HB13-1287 | |
| TIME: | 02:06:24 PM |
| MOVED: | DelGrosso |
| MOTION: | Refer House Bill 13-1287 to the Committee on Appropriations. The motion passed on a vote of 10-0, with one excused. |
| SECONDED: | Hamner |
| VOTE |
| DelGrosso | Yes |
| Exum | Yes |
| Hamner | Yes |
| Holbert | Yes |
| Navarro | Yes |
| Nordberg | Yes |
| Rosenthal | Yes |
| Ryden | Yes |
| Szabo | Excused |
| Kraft-Tharp | Yes |
| Williams | Yes |
| | |
Final YES: 10 NO: 0 EXC: 1 ABS: 0 FINAL ACTION: PASS |