Date: 05/05/2015

Final
BILL SUMMARY for SB15-283

HOUSE COMMITTEE ON JUDICIARY

Votes: View--> Action Taken:
Refer Senate Bill 15-283 to the Committee of the WPASS



11:41 AM -- SB15-283

The committee was called to order. A quorum was present. Representative Lee, prime sponsor, presented Senate Bill 15-283, concerning debt collection proceedings, and, in connection therewith, increasing the scope and value of assets that may be exempted, clarifying definitions of "earnings", and clarifying the procedure for service of notice of exemption and pending levy in certain garnishment proceedings. Representative Lee explained the effect of the bill, and discussed its merits. Representative Lee responded to questions regarding the last time statutory provisions concerning bankruptcy exemptions were amended. The following persons testified regarding SB 15-283:

11:44 AM -- Mr. Guy Humphries, representing himself, testified regarding the bill. Mr. Humphries discussed the stakeholder process for drafting the bill, and explained that there is no cost-of-living provision that automatically adjusts the dollar value of bankruptcy exemptions. Mr. Humphries discussed some jurisprudence associated with garnishments and bankruptcy, and explained how SB 15-283 addresses this issue. Mr. Humphries responded to questions regarding the bill's amendment of the "tools of trade" exemption for bankruptcy.

11:55 AM -- Mr. Andy Qurat, representing himself, testified in opposition to SB 15-283. Committee members received a packet of information on a case involving bankruptcy exemptions (Attachment A). Mr. Qurat provided an overview of the history of the General Assembly's treatment of independent contractors as compared to employees for bankruptcy purposes, and explained that these two categories should be treated differently. Mr. Qurat addressed the jurisprudence associated with bankruptcy. He urged the committee to use caution in going forward with the bill. Discussion ensued regarding the General Assembly's authority in the area of bankruptcy exemptions, and the impact of garnishments and garnishment exemptions in bankruptcy on the economic well-being of the subject individuals.

15HouseJud0505AttachA.pdf15HouseJud0505AttachA.pdf

12:14 PM -- Ms. Melanie Layton, representing the Colorado Bankers Association and the Independent Bankers of Colorado, testified in support of the bill. Ms. Layton discussed the stakeholders involved in crafting the bill. Ms. Layton responded to questions regarding the position of the banking community on a provision in the bill.


12:16 PM
BILL:SB15-283
TIME: 12:16:25 PM
MOVED:Lee
MOTION:Refer Senate Bill 15-283 to the Committee of the Whole. The motion passed on a vote of 12-0.
SECONDED:Court
VOTE
Becker K.
Yes
Carver
Yes
Court
Yes
Dore
Yes
Foote
Yes
Lawrence
Yes
Lundeen
Yes
Pettersen
Yes
Salazar
Yes
Van Winkle
Excused
Willett
Yes
Lee
Yes
Kagan
Yes
Final YES: 12 NO: 0 EXC: 1 ABS: 0 FINAL ACTION: PASS