House Committee on Finance (03/20/2014)

Final
STAFF SUMMARY OF MEETING

HOUSE COMMITTEE ON FINANCE

Date:	03/20/2014	ATTENDANCE

Time:	10:52 AM to 11:41 AM	Becker	X
		DelGrosso	E
Place:	LSB A	Foote	X
		Joshi	X
This Meeting was called to order by		Kagan	*
	Representative Court	Melton	X
		Pabon	E
This Report was prepared by		Priola	X
	Matt Kiszka	Saine	E
		Swalm	*
		Wilson	X
		Labuda	X
		Court	X
		X = Present, E = Excused, A = Absent, * = Present after roll call

Bills Addressed:		Action Taken:
SB14-036 SB14-030 SB14-041 SB14-022		Referred to Appropriations Referred to Appropriations Referred to Appropriations Referred to the Committee of the Whole

10:52 AM -- SB14-036

Representatives Garcia and Lawrence came to the table to present Senate Bill 14-036, which they explained distinguishes emergency medical personnel by creating the Emergency Medical Services special license plate. The license plate will be available to an applicant who provides documentation to the Department of Revenue confirming that he or she has donated $10 to the Emergency Medical Services Association of Colorado.

10:55 AM -- Tony Anderson, representing the Division of Motor Vehicles (DMV) within the Department of Revenue, came to the table for questions. He spoke to the fee associated with the license plate, and how license plates are produced and distributed by the DMV.


BILL:	SB14-036
TIME:	11:00:41 AM
MOVED:	Melton
MOTION:	Refer Senate Bill 14-036 to the Committee on Appropriations. The motion passed on a vote of 10-0, with 3 members excused.
SECONDED:	Priola
		VOTE
	Becker	Yes
	DelGrosso	Excused
	Foote	Yes
	Joshi	Yes
	Kagan	Yes
	Melton	Yes
	Pabon	Excused
	Priola	Yes
	Saine	Excused
	Swalm	Yes
	Wilson	Yes
	Labuda	Yes
	Court	Yes

YES: 10 NO: 0 EXC: 3 ABS: 0 FINAL ACTION: PASS

11:01 AM -- SB14-030

Representative Wilson came to the table to present Senate Bill 14-030, and explained that it eliminates all fees for one set of Distinguished Flying Cross license plates, if the cross was awarded for valor. He also explained the Distinguished Flying Cross, when the cross is awarded for valor in battle, and spoke to the fiscal impact of the bill. He responded to questions on how many flying cross license plates had been purchased to date.


BILL:	SB14-030
TIME:	11:07:17 AM
MOVED:	Wilson
MOTION:	Refer Senate Bill 14-030 to the Committee on Appropriations. The motion passed on a vote of 10-0, with 3 members excused.
SECONDED:	Swalm
		VOTE
	Becker	Yes
	DelGrosso	Excused
	Foote	Yes
	Joshi	Yes
	Kagan	Yes
	Melton	Yes
	Pabon	Excused
	Priola	Yes
	Saine	Excused
	Swalm	Yes
	Wilson	Yes
	Labuda	Yes
	Court	Yes

YES: 10 NO: 0 EXC: 3 ABS: 0 FINAL ACTION: PASS

11:12 AM -- SB14-041

Representatives Swalm and Gardner came to the table and presented Senate Bill 14-041. They explained that the bill creates the USS Colorado special license plate and makes an appropriation. The license plate will be available to all applicants who support the USS Colorado and who pay the standard license plate fees and a one-time additional fee of $50. The plate will indicate that the owner is a supporter of the USS Colorado submarine.

11:16 AM -- Tony Anderson, representing the Division of Motor Vehicles within the Department of Revenue, came to the table and addressed questions on the different types of license plate available in Colorado.


BILL:	SB14-041
TIME:	11:21:21 AM
MOVED:	Swalm
MOTION:	Refer Senate Bill 14-041 to the Committee on Appropriations. The motion passed on a vote of 9-0, with 3 members excused and 1 member absent.
SECONDED:	Court
		VOTE
	Becker	Yes
	DelGrosso	Excused
	Foote	Yes
	Joshi	Yes
	Kagan	Yes
	Melton	Yes
	Pabon	Excused
	Priola	Absent
	Saine	Excused
	Swalm	Yes
	Wilson	Yes
	Labuda	Yes
	Court	Yes

YES: 9 NO: 0 EXC: 3 ABS: 1 FINAL ACTION: PASS

11:22 AM -- SB14-022

Representative Fields came to the table and presented Senate Bill 14-022. She told the committee that the bill, which was recommended by the Economic Opportunity Poverty Reduction Task Force, allows local governments to invest public funds in certain securities offered by a community development financial institution (CDFI). Under the bill, local governments can only purchase securities from CDFIs that are legally certified, independent, nongovernmental entities in good financial standing with the U.S. Department of Treasury. The bill also makes conforming amendments to foreclosure law that allow a CDFI to act as a mortgage lender. The bill does not affect investment of state moneys by the State Treasurer, which is governed by other sections of law. Two handouts were distributed to the committee on CDFIs (Attachments A and B).

14HseFin0320AttachA.pdf

14HseFin0320AttachB.pdf

11:24 AM -- Jeff Seifreid, representing the Mile High Community Loan Fund, spoke in favor of the bill. He responded to questions on whether a CDFI releasing a lien will no longer need to provide a promissory note under the bill, and the differentiation between the assets and the loan activity shown in the CDFI examples in Attachment B.

11:30 AM -- Mark Radtke, representing the Colorado Municipal League (CML), spoke in support of the bill. He stated that this is a program that many cities are familiar with, and that the bill provides local governments with a voluntary option of participating in the program. Representative Fields responded to questions on a previous amendment to the bill and why CDFIs need to be better defined in Colorado statute. At the request of the committee, Mr. Seifried spoke to the definition of CDFIs under federal law, why the senate amended the bill to remove language that included municipalities under the bill, and how the committee votes were split when the bill was passed in the Senate.

11:38 AM

Mr. Radtke responded to a question on CML's reasons for supporting the bill.


BILL:	SB14-022
TIME:	11:39:43 AM
MOVED:	Becker
MOTION:	Refer Senate Bill 14-022 to the Committee of the Whole. The motion passed on a vote of 7-2, with 3 members excused and 1 member absent.
SECONDED:	Kagan
		VOTE
	Becker	Yes
	DelGrosso	Excused
	Foote	Yes
	Joshi	No
	Kagan	Yes
	Melton	Yes
	Pabon	Excused
	Priola	Absent
	Saine	Excused
	Swalm	Yes
	Wilson	No
	Labuda	Yes
	Court	Yes

YES: 7 NO: 2 EXC: 3 ABS: 1 FINAL ACTION: PASS

11:41 AM

The committee was adjourned.