Date: 04/23/2014

Final
BILL SUMMARY for SB14-183

HOUSE COMMITTEE ON LOCAL GOVERNMENT

Votes: View--> Action Taken:
Refer Senate Bill 14-183 to the Committee of the WPASS



02:02 PM -- SB14-183

Representative Holbert and Representative Pabon presented and summarized Senate Bill 14-183 concerning an increase in the maximum term of a business incentive agreement that a local government enters into with a taxpayer who pays business personal property tax. Under current law, local governments, including counties, municipalities, and special districts, may negotiate an incentive payment or property tax credit with taxpayers that pay business personal property tax, and establish a new business facility, expand an existing facility, or are considering relocating an existing facility out of state. These payments or credits are included in agreements commonly known as business incentive agreements (BIAs). This bill extends the existing 10-year statutory limit on the term of a BIA to 35 years.

Representative Holbert answered questions from the committee regarding opposition of the bill in the Senate.

02:07 PM -- Sandra Solin, representing the Colorado Technology Association and the Northern Colorado Legislative Alliance, spoke in favor of the bill. She discussed the current technology industry in Colorado and the need to update tax policy.

02:10 PM -- Matthew Smith, representing himself, spoke against the bill. He said that he is concerned that the bill is a subsidy for businesses and that it unfairly focuses on specific industries. He discussed the growth of new businesses and said that counties should not be afraid of a changing business environment. He said that a thirty-five year extension is too long for providing business incentives.

Mr. Smith answered questions from the committee regarding business incentive agreements. He said that local government agreements with businesses should not be incentives for individual businesses. Mr. Smith said that it is important for the free market to make the decisions regarding the success of businesses.

Representative Holbert and Representative Pabon provided closing comments on the bill.
BILL:SB14-183
TIME: 02:19:01 PM
MOVED:Singer
MOTION:Refer Senate Bill 14-183 to the Committee of the Whole. The motion passed on a vote of 10-1.
SECONDED:Vigil
VOTE
Dore
Excused
Exum
Yes
Garcia
Yes
Gardner
Excused
Landgraf
Yes
Lebsock
Yes
Navarro
Yes
Rankin
Yes
Rosenthal
Yes
Vigil
Yes
Wright
No
Singer
Yes
Fields
Yes
FINAL YES: 10 NO: 1 EXC: 2 ABS: 0 FINAL ACTION: PASS