Final
STAFF SUMMARY OF MEETING
HOUSE
COMMITTEE ON
FINANCE
Date:
04/20/2005
ATTENDANCE
Time:
03:40 PM
to
04:13 PM
Benefield
X
Cloer
X
Place:
HCR 0107
Crane
X
Frangas
X
This Meeting was called to order by
Garcia
*
Representative
Vigil
Jahn
X
Marshall
X
This Report was prepared by
Massey
X
Ron Kirk
May M.
*
McCluskey
X
Witwer
X
Judd
X
Vigil
X
X = Present, E = Excused, A = Absent, * = Present after roll call
Bills Addressed:
Action Taken:
SB05-196
HB05-1319
SB05-039
Referred to Committee on Appropriations
Tabled - Deemed Postponed Indefinitely
Referred to Committee on Appropriations
03:41 PM -- Senate Bill 05-196 - Concerning the Creation of an Investment and Development Fund to the State Board of Land Commissioners
Representative Buescher, prime sponsor, explained the provisions of the bill and distributed a Joint Budget Committee factsheet (Attachment A) on Senate Bill 05-196. Representative Buescher explained that Senate Bill 05-196 transfers $1 million in cash fund exempt moneys from the State Land Board earnings on mineral royalties into the State Board of Land Commissioners Investment and Development Fund to increase the value of or rate of return on the lands.
The following persons testified:
03:45 PM --
Ms. Britt Weygandt, Director for the State Land Board, responded to committee questions. Ms. Weygandt commented that Senate Bill 05-196 would allow the income for the land trust to increase.
03:48 PM --
Ms. Karen Gerwitz, State Board of Education, School Land Trust Steering Committee, testified in support of the legislation and distributed a letter (Attachment B) in support of the legislation from the Colorado State Board of Education.
03:52 PM --
Mr. Ben Stein, Deputy State Treasurer, responded to committee questions.
BILL:
SB05-196
TIME:
03:56:21 PM
MOVED:
McCluskey
MOTION:
Refer SB 05-196 to the Committee on Appropriations. The motion passed on a 12-0-1 vote.
SECONDED:
Massey
VOTE
Benefield
Yes
Cloer
Yes
Crane
Yes
Frangas
Yes
Garcia
Yes
Jahn
Yes
Marshall
Yes
Massey
Yes
May M.
Excused
McCluskey
Yes
Witwer
Yes
Judd
Yes
Vigil
Yes
Final YES:
12
NO:
0
EXC:
1
ABS:
0
FINAL ACTION:
PASS
03:58 PM -- House Bill 05-1319 - Concerning Child Care and Child Tax Credits - For Action Only
Representative Solano, prime sponsor, commented on the legislation's potential cost in a difficult budget year and asked the committee to lay over House Bill 05-1319 to May 13, 2005. The motion passed on a 9-3-1 vote.
BILL:
HB05-1319
TIME:
03:59:38 PM
MOVED:
Frangas
MOTION:
Move to lay over HB 05-1319 to May 13, 2005. The motion passed on a 9-3-1 vote.
SECONDED:
Marshall
VOTE
Benefield
Yes
Cloer
No
Crane
No
Frangas
Yes
Garcia
Yes
Jahn
Yes
Marshall
Yes
Massey
Yes
May M.
Excused
McCluskey
No
Witwer
Yes
Judd
Yes
Vigil
Yes
Final YES:
9
NO:
3
EXC:
1
ABS:
0
FINAL ACTION:
PASS
04:01 PM -- Senate Bill 05-039 - Concerning the Administration of the Petroleum Storage Tank Fund
Representative Marshall, prime sponsor, explained the provisions of the bill. She explained Senate Bill 05-039 declares the Petroleum Storage Tank Fund (PSTF) to be an enterprise fund exempt from TABOR limits. The bill also allows the executive director of the Department of Labor and Employment to issue bonds and changes the liability limits and fee structure of the Fund.
The following persons testified:
04:03 PM --
Mr. Dick Piper, Department of Labor and Employment, Division of Public Safety, discussed the administration of the fund and commented on the sites that are cleaned-up by the fund. Mr. Piper mentioned that the average cost for site reclamation is about $175,000.
04:10 PM --
Mr. Roy Turner, Colorado Petroleum Marketers Association, testified in support of the legislation.
BILL:
SB05-039
TIME:
04:11:43 PM
MOVED:
Marshall
MOTION:
Refer SB 05-039 to the Committee on Appropriations. The motion passed on a 12-1-0 vote.
SECONDED:
McCluskey
VOTE
Benefield
Yes
Cloer
Yes
Crane
Yes
Frangas
Yes
Garcia
No
Jahn
Yes
Marshall
Yes
Massey
Yes
May M.
Yes
McCluskey
Yes
Witwer
Yes
Judd
Yes
Vigil
Yes
Final YES:
12
NO:
1
EXC:
0
ABS:
0
FINAL ACTION:
PASS
04:13 PM
Adjourn.