Date: 02/19/2015
Final
BILL SUMMARY for HB15-1189
HOUSE COMMITTEE ON JUDICIARY
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04:17 PM -- HB15-1189
The committee recessed.
04:31 PM
The committee returned to order. Representative Keyser, prime sponsor, presented House Bill 15-1189, concerning the "Colorado Uniform Fiduciary Access to Digital Assets Act." Representative Keyser provided background on the Colorado Commission on Uniform State Laws. Representative Keyser explained the effect of the bill. The following persons testified regarding the bill:
04:38 PM -- Ms. Anne McGihon, representing the Colorado Commission on Uniform State Laws, testified in support of the bill. Ms. McGihon discussed the role of the commission and the process by which bill was crafted. She provided an overview of the bill. Ms. McGihon responded to questions regarding the number of states that have adopted the Uniform Fiduciary Access to Digital Assets Act. Ms. McGihon responded to questions regarding how the Colorado Commission on Uniform State Laws commissioners are appointed.
04:47 PM
The committee recessed.
04:58 PM
The committee returned to order. Mr. Stan Kent, representing the Colorado Commission on Uniform State Laws, testified in support of the bill. Mr. Kent provided background on modern asset handling, and further explained the effect of the bill. Mr. Kent clarified how information disseminated electronically is handled under the bill for privacy purposes, and the benefits of making declarations in a will about how to treat electronic communications once deceased.
05:16 PM
Discussion ensued regarding the scope of the bill in terms of electronic communications, particularly communications made during employment. Mr. Kent responded to questions regarding the ability of the executor of a decedent's will to access the contents of a decedent's electronic communications under the bill. Mr. Kent further clarified which electronic communications an agent or executor may access under the bill. Mr. Kent responded to questions about cross-state access of electronic communications under the bill, and the storage of digital assets under the bill. Discussion followed regarding federal preemption of access to digital assets under certain circumstances.
05:27 PM -- Ms. Mary Marchun and Ms. Melanie Layton, representing the Independent Bankers and the Colorado Bankers Association, expressed concerns about the bill. Ms. Layton requested additional time to work on the bill to address questions raised by stakeholders. Ms. Marchun responded to questions regarding these concerns. Discussion ensued regarding some potential forthcoming amendments to the bill, and the amount of time the bill has been available to the concerned parties. Discussion followed regarding the potential impact of amending the bill on its uniformity with other similar state laws.
05:36 PM
Ms. McGihon returned to address the concerns of and claims made by Ms. Marchun and Ms. Layton. Mr. Kent returned to discuss the stakeholders involved in crafting HB 15-1189.
05:40 PM
Representative Kagan laid over HB 15-1189.