Date: 02/23/2006
Final
BILL SUMMARY for HB06-1324
HOUSE COMMITTEE ON FINANCE
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11:21 AM -- House Bill 06-1324
Representative Borodkin, prime sponsor explained that under current law 49.8 percent of the funds available for distribution in the Limited Gaming Fund at the end of each fiscal year are transferred to the General Fund and 0.2 percent are transferred to the Colorado Travel and Tourism Promotion Fund. Beginning with FY 2005-06, House Bill 06-1324 eliminates the transfer to the Colorado Travel and Tourism Promotion Fund and allocates 5 percent of the General Fund share remaining after the distribution to the Local Government Gaming Impact Fund to the State Council on the Arts.
The following persons testified:
11:26 AM -- Ms. Christy Chase, Office of Legislative Legal Services, explained the distributions of money under House Bill 06-1324 to the State Council on the Arts.
11:30 AM -- Ms. Elaine Mariner, Colorado Council on the Arts, testified in support of the bill and commented on state funding for the arts. Ms. Mariner discussed the role of arts in education and commented on the economic return for state money invested in the arts. Ms. Mariner closed by discussing funding for the arts in other states such as Wyoming.
11:37 AM
The committee engaged in a brief discussion regarding money transferred under the bill and the effect on the Highway Users Tax Fund. Representative Vigil, Chairman, discussed the fiscal note and laid over the bill to allow the sponsor time to make some drafting changes.
11:42 AM
Adjourn.