Date: 02/25/2015

Final
BILL SUMMARY for HB15-1132

HOUSE COMMITTEE ON FINANCE

Votes: View--> Action Taken:
Adopt amendment L.003 (Attachment A). The motion pPass Without Objection



01:56 PM -- HB15-1132

Representative Becker, K., co-prime sponsor, introduced House Bill 15-1132. This bill creates an income tax credit for qualified improvements that increase the energy efficiency of residential property. The tax credit is based on the level of energy savings achieved. Taxpayers apply for the credit through the Colorado Energy Office (CEO). The CEO is to adjust the tax credit to account for other incentive programs and provide taxpayers with a certificate to claim the credit. Taxpayers can submit the certificate when they file their income tax return. The credit is not refundable but may be carried forward for up to five years and is available in tax years 2015 to 2019. Representative Becker stated the goal of the bill is to target older homes that need deep retrofits.

Representative Coram, co-prime sponsor, spoke to the benefits of the bill to both owners of older homes and rural homeowners. He noted the bill targets pre-1970s homes. Committee discussion ensued regarding up-front costs for deep retrofits and the cost of energy efficiency audits.

02:12 PM -- Mr. Peter Rusin, representing the Colorado Energy Office, testified in support of the bill. He described that most of the energy savings in homes through this bill come from wall insulation and newer water heaters in the older homes. He noted that the program is aimed at those who do not qualify for low-income subsidies, but still own older homes that need energy efficiency updates. He discussed the need for the five year duration of the program, along with how citizens find out about the tax credit through the CEO and local public utility companies.
BILL:HB15-1132
TIME: 02:21:34 PM
MOVED:Becker K.
MOTION:Adopt amendment L.003 (Attachment A). The motion passed without objection.

15HouseFin0225AttachA.pdf15HouseFin0225AttachA.pdf
SECONDED:Priola
VOTE
Becker K.
Conti
Garnett
Kagan
Pabon
Priola
Roupe
Van Winkle
Excused
Wilson
Foote
Court
YES: 0 NO: 0 EXC: 1 ABS: 0 FINAL ACTION: Pass Without Objection


02:22 PM

The committee discussed another proposed amendment. Committee discussion ensued regarding fiscal policy and fiscal responsibility. The committee laid over the bill to a future date for action only.