Date: 04/09/2015

Final
BILL SUMMARY for SB15-206

SENATE COMMITTEE ON AGRICULTURE, NATURAL RESOURCES, & ENERGY

Votes: View--> Action Taken:
Adopt amendment L.001. The motion passed without o
Refer Senate Bill 15-206, as amended, to the Commi		Pass Without Objection
PASS



04:33 PM -- SB 15-206

Senator Roberts and Senator Hodge, co-sponsors, described the provisions of Senate Bill 15-206 concerning the implementation of the conservation easement audit recommendations. They also distributed Amendment L. 001 (Attachment K) that amends the bill's title and a letter of support for the bill from Steve Whinnery (Attachment L). This bill makes two changes to the gross conservation easement income tax credit beginning in tax year 2015. First, credit awarded for the first $100,000 of a donated conservation easement is increased to 75 percent of the easement's fair market value, up from 50 percent in current law. Second, the maximum credit that may be awarded to a donor for a single donation is increased to $1,500,000 from the $375,000 cap in current law. The bill does not affect the annual cap on the total amount of credit that may be awarded to taxpayers participating in the gross conservation easement income tax credit program, set at $45 million beginning in tax year 2014.

150409 AttachK.pdf150409 AttachK.pdf150409 AttachL.pdf150409 AttachL.pdf

The following persons testified on the bill:

04:39 PM -- Gaspar Perricone, Department of Natural Resources, spoke in support of the bill.

04:40 PM -- Chris West, Colorado Cattlemens' Association Agricultural Land Trust, spoke in support of the bill.

04:44 PM -- Kevin Shea, representing himself, spoke in support of the bill.

04:46 PM -- Steve Wooten, Colorado Cattlemens' Association Agricultural Land Trust, spoke in support of the bill.

04:52 PM -- Kent Holsinger, representing himself, spoke in support of the bill and described a conservation easement on his family's ranch that is held by the Colorado Cattlemens' Association Agricultural Land Trust.

04:53 PM -- Kevin and Sandi Tureck, representing themselves, spoke in support of the bill and discussed the benefits of conservation easements to family farms and ranches.

04:58 PM -- Stacy McPhail, Gunnison Ranchland Conservation Legacy, spoke in support of the bill and summarized the provisions of the letter of support for the bill from Steve Whinnery.

05:00 PM -- Nick Colglazier, Colorado Farm Bureau, spoke in support of the bill.

05:03 PM

The chair closed testimony on the bill and Senator Roberts and Senator Hodge closed their remarks on the bill. Senator Roberts also distributed a handout that identifies conservation easements in Colorado (Attachment M).

150409 AttachM.pdf150409 AttachM.pdf
BILL:SB15-206
TIME: 05:08:01 PM
MOVED:Roberts
MOTION:Adopt amendment L.001. The motion passed without objection.
SECONDED:
VOTE
Baumgardner
Cooke
Donovan
Garcia
Hodge
Jones
Scott
Roberts
Sonnenberg
YES: 0 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: Pass Without Objection



05:11 PM

The committee recessed.

05:11 PM

The committee returned from recess.

BILL:SB15-206
TIME: 05:12:02 PM
MOVED:Roberts
MOTION:Refer Senate Bill 15-206, as amended, to the Committee on Finance. The motion passed on a vote of 9-0.
SECONDED:
VOTE
Baumgardner
Yes
Cooke
Yes
Donovan
Yes
Garcia
Yes
Hodge
Yes
Jones
Yes
Scott
Yes
Roberts
Yes
Sonnenberg
Yes
Final YES: 9 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: PASS




05:13 PM

The committee adjourned.