Date: 04/15/2015

Final
BILL SUMMARY for HB15-1348

HOUSE COMMITTEE ON FINANCE

Votes: View--> Action Taken:
Refer House Bill 15-1348 to the Committee of the WPASS



01:38 PM -- HB15-1348

Speaker Hullinghorst, co-prime sponsor, introduced House Bill 15-1348. The bill creates new requirements for urban renewal authorities (URAs) in Colorado. The changes affect:

• the governance of urban renewal authorities;
• procedures municipalities must follow prior to the adoption or modification of urban renewal plans, including required negotiations relating to urban renewal plans with tax increment financing (TIF) provisions;
• the allocation of funds when municipalities and affected local taxing entities fail to reach agreement on the share of TIF revenue to be allocated to each, specifically limiting an urban renewal authority's TIF
allocations from property taxes in this situation to the same percentage allocated from municipal sales tax; and
• the distribution of excess funds at the conclusion of an urban renewal project.

Speaker Hullinghorst noted that she strongly supports URAs in Colorado, but she believes Colorado needs to increase the fairness of urban renewal. She stated that the bill would potentially decrease school finance backfill by the state. In response to a committee question, she noted that URAs can only occur under municipalities.


01:39 PM

Representative Lawrence, co-prime sponsor, spoke to the bill. She discussed TIFs, URAs, and municipal and county finances. She highlighted specific provisions of the bill. She noted that the bill strives to balance urban renewal and taxpayer fairness.

02:06 PM -- Commissioner Steve Johnson, representing Larimer County, testified in support of the bill. He noted that county governments support URA projects. He discussed the importance of the bill to county governments.

02:09 PM -- Mr. Corbin Sakdol, representing the Colorado Assessor's Association, testified in support of the bill.

02:14 PM -- Mr. Charles Ward, representing the Denver Metro Chamber of Commerce, testified in opposition to the bill. He stated that the bill will have a chilling effect on URA projects in Colorado.

02:18 PM -- Commissioner Nancy Sharpe, representing Arapahoe County, testified in support of the bill. She discussed a recent election in Littleton and its potential impact on URA projects in Arapahoe County. She noted that as a former mayor of Greenwood Village, she supports the bill.

02:23 PM -- Mr. Steve Smithers, representing the City of Westminster, testified in opposition to the bill.

02:30 PM -- Chief Bob Baker, representing the South Metro Fire Rescue Authority, testified in support of the bill. He discussed the three URAs in the South Metro area and noted their impact on special districts budgets.

02:34 PM -- Mr. Evan Goulding, representing the Special District Association, testified in support of the bill. He noted that this bill addresses the concerns of special districts and discussed bond issues in Colorado.

02:39 PM -- Mr. Joshua Rivero, representing the Town of Parker, testified in opposition to the bill. He discussed Parker's use of TIFs.

02:47 PM -- Commissioner Cindy Domenico, representing Boulder County, testified in support of the bill. She noted the bill encourages dialogue and communication between local governments. In response to committee questions, she discussed mill levies.

02:54 PM -- Mr. Jim Rees, representing the Colorado Springs URA and Littleton URA, testified in opposition to the bill. He discussed the urban renewal process.

02:57 PM -- Commissioner Sally Clark, representing El Paso County, testified in support of the bill. She noted that counties need a seat at the table.

03:02 PM -- Mr. Grant Nelson, representing the International Council of Shopping Centers, testified in opposition to the bill. He believes that before changing statute, the issue needs more study.

03:09 PM -- Ms. Jane Urschel, representing the Colorado Association of School Boards, testified in support the bill. She noted that school districts would like a seat at the table on urban renewal projects.

03:11 PM -- Ms. Anne Ricker, representing Ricker Cunningham, testified in opposition to the bill. She distributed a handout (Attachment A) and discussed URAs and the bond market.

15HouseFinance0415AttachA.pdf15HouseFinance0415AttachA.pdf

03:22 PM -- Mr. Travis Berry, representing the Colorado Competitive Council, testified in opposition to the bill. He discussed the projects that TIFs make possible.

03:26 PM -- Mr. Robert Bowen, representing himself, testified in support of the bill. He discussed his experiences with urban development.

03:33 PM -- Ms. Erin Goff, representing the National Association for Industrial and Office Parks, the International Council of Shopping Centers, the Town of Parker, and the City of Commerce City, testified in opposition to the bill. She discussed how the bill creates uncertainty in the revenue stream.

03:39 PM -- Ms. Linda Hoffmann, representing Larimer County, testified in support of the bill. She discussed the URA projects in Larimer County.

03:43 PM -- Ms. JoAnn Groff, representing the Colorado Division of Property Taxation, came to the table to answer questions regarding TIFs and URAs. Committee discussion ensued.

03:57 PM -- Mr. Larry Hoyt, representing the Boulder County Commissioners, testified in support of bill. He addressed previous committee questions and answered questions regarding bond financing.
BILL:HB15-1348
TIME: 04:12:53 PM
MOVED:Kagan
MOTION:Refer House Bill 15-1348 to the Committee of the Whole. The motion passed on a vote of 8-3.
SECONDED:Roupe
VOTE
Becker K.
Yes
Conti
Yes
Garnett
Yes
Kagan
Yes
Priola
No
Roupe
Yes
Ryden
Yes
Van Winkle
Yes
Wilson
Yes
Foote
No
Court
No
Final YES: 8 NO: 3 EXC: 0 ABS: 0 FINAL ACTION: PASS