Bill Summary for Bill Number HB06-1361

Date: 03/08/2006

Final
BILL SUMMARY for HB06-1361

HOUSE COMMITTEE ON FINANCE

Votes: View-->	Action Taken:
Moved amendment L.001 (Attachment K). (The amendm Moved amendment L.001 (Attachment K). (The amendm Refer House Bill 06-1361, as amended, to the Commi Refer House Bill 06-1361, as amended, to the Commi	Pass Without Objection Pass Without Objection PASS PASS

04:57 PM -- House Bill 06-1361 - Concerning Incentives for Bioscience Companies

Representative Green, prime sponsor, explained that House Bill 06-1361 creates the Colorado Bioscience Research Program to enhance the access of bioscience companies to research infrastructure at research institutions. Representative Green said that this would be accomplished by offering research incentives to offset the indirect costs associated with research services performed by research institutions. Administration of the program would be provided by the Office of Economic Development (OED) in the Governor's office in consultation with a Colorado bioscience membership organization. The bill establishes a process by which a company may request an incentive, and establishes eligibility criteria for the incentives. Representative Green said that each research incentive awarded may not exceed the lessor of the indirect costs associated with the research project, or $20,000 per project. A bioscience company may not receive research incentives totaling more than $40,000 within any 12-month period. Representative Green closed by saying that professionals in the bioscience industry are very highly paid having an average industry salary of $63,000 per year.

The following persons briefly testified:

05:09 PM -- Ms. Kathy Delehoy, Colorado State University, testified in support of the legislation.

05:10 PM -- Mr. Alex Franzusoff, Globe Immune, testified in support of the legislation.

05:11 PM -- Mr. Michael Browning, University of Colorado Health Sciences Center, testified in support of the bill.


BILL:	HB06-1361
TIME:	05:13:06 PM
MOVED:	McCluskey
MOTION:	Moved amendment L.001 (Attachment K). (The amendment advances the cash fund expenditure and funding from FY 2005-06 to FY 2006-07.) The motion passed without objection by those members present.
SECONDED:	Massey
		VOTE
	Benefield
	Cloer
	Crane
	Frangas
	Garcia
	Harvey
	Jahn
	Kerr
	Marshall
	Massey
	McCluskey
	Judd
	Vigil
Not Final YES: 0 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: Pass Without Objection


BILL:	HB06-1361
TIME:	05:13:42 PM
MOVED:	Frangas
MOTION:	Refer House Bill 06-1361, as amended, to the Committee on Appropriations. The motion passed on a 10-3-0 vote.
SECONDED:	Jahn
		VOTE
	Benefield	Yes
	Cloer	Yes
	Crane	Yes
	Frangas	Yes
	Garcia	No
	Harvey	No
	Jahn	Yes
	Kerr	Yes
	Marshall	Yes
	Massey	Yes
	McCluskey	Yes
	Judd	No
	Vigil	Yes
Final YES: 10 NO: 3 EXC: 0 ABS: 0 FINAL ACTION: PASS