Date: 02/20/2013

Final
BILL SUMMARY for HB13-1174

HOUSE COMMITTEE ON FINANCE

Votes: View--> Action Taken:
Motion to postpone House Bill 13-1174 indefinitely
Refer House Bill 13-1174 to the Committee on Appro		PASS
FAIL



04:22 PM -- House Bill 13-1174 - Concerning the Business Personal Property Tax

Representative Saine and Representative Humphrey, prime sponsors, explained the provisions of the bill. Representative Saine began by saying that under current law, the property tax exemption for business personal property on a single personal property schedule is $7,000 in actual value for property tax years 2013 and 2014, and an inflation adjusted amount every two years thereafter. This bill increases the exemption to $25,000 for property tax years 2015 and 2016 and $50,000 for property tax years 2017 and 2018, adjusted biennially for inflation thereafter.

Representative Humphrey noted that the business personal property tax is a burdensome tax for small businesses to comply with and is costly to administer. He closed by saying that the bill also exempts all locally assessed business personal property that is fully depreciated. Under current law, business personal property that is fully depreciated is still subject to property taxation.

The following persons testified:
04:32 PM -- Mr. Patrick Boyle, representing the Colorado Competitive Council, testified in support of the bill.

04:38 PM -- Mr. Jim Noon, representing Centennial Container, testified in support of the bill.

04:39 PM -- Mr. Toni Gagliardi, representing the National Federation of Independent Business, testified in support of the bill.

04:46 PM -- Mr. Tom Clark, representing the Metro Denver Economic Development Corporation, testified in support of the bill.

04:46 PM -- Mr. Bill Clayton, representing Colorado Counties Incorporated, and Mr. Evan Goulding, representing the Special Districts Association, testified in opposition to the bill.
BILL:HB13-1174
TIME: 04:49:50 PM
MOVED:Priola
MOTION:Refer House Bill 13-1174 to the Committee on Appropriations. The motion failed on a vote of 5-7.
SECONDED:Swalm
VOTE
DelGrosso
Excused
Foote
No
Joshi
Yes
Kagan
No
May
No
Melton
No
Pabon
No
Priola
Yes
Saine
Yes
Swalm
Yes
Wilson
Yes
Labuda
No
Court
No
YES: 5 NO: 7 EXC: 1 ABS: 0 FINAL ACTION: FAIL


BILL:HB13-1174
TIME: 04:53:54 PM
MOVED:Melton
MOTION:Motion to postpone House Bill 13-1174 indefinitely. The motion passed on a vote of 7-5.
SECONDED:Labuda
VOTE
DelGrosso
Excused
Foote
Yes
Joshi
No
Kagan
Yes
May
Yes
Melton
Yes
Pabon
Yes
Priola
No
Saine
No
Swalm
No
Wilson
No
Labuda
Yes
Court
Yes
Final YES: 7 NO: 5 EXC: 1 ABS: 0 FINAL ACTION: PASS



04:54 PM

The committee adjourned.