Date: 03/08/2006

Final
BILL SUMMARY for HB06-1360

HOUSE COMMITTEE ON FINANCE

Votes: View--> Action Taken:
Refer House Bill 06-1360 to the Committee on ApproPASS


03:48 PM -- House Bill 06-1360 - Concerning Incentives for Bioscience Discoveries

Representative Riesberg, prime sponsor, explained that House Bill 06-1360 creates the Bioscience Discovery Evaluation Grant Program to improve and expand the evaluation of new bioscience discoveries at research institutions with the intent of accelerating the development of new products and services. Administration of the grant program would be provided by the Office of Economic Development (OED) in the Governor's office in consultation with a Colorado bioscience membership organization. Representative Riesberg closed by saying that the bill establishes a grant application process for grants of up to $150,000 per bioscience research project.

The following persons testified:

03:52 PM -- Mr. David Allen, University of Colorado, testified in support of the legislation and distributed handouts on the legislation (Attachment J). Mr. Allen said that House Bill 06-1360 will create jobs and generate new tax revenue. He urged the committee to support the legislation.

04:19 PM -- Mr. Tom Clark, Metro Denver Chamber of Commerce, testified in support of the legislation. Mr. Clark maintained that the bioscience industry in Colorado holds great growth potential and will provide Colorado with significant returns in terms of tax revenue.

04:31 PM -- Dr. Michael Salem, National Jewish Center, testified in support of the legislation. He closed by saying that House Bill 06-1360 is important legislation for small businesses in Colorado.

04:43 PM -- Dr. Richard Duke, Colorado Bioscience Association, testified in support of the measure.

04:51 PM -- Ms. Sue Halk, Colorado Software Internet Provider, testified in support of the legislation.
BILL:HB06-1360
TIME: 04:54:12 PM
MOVED:Massey
MOTION:Refer House Bill 06-1360 to the Committee on Appropriations. The motion passed on a 10-2-1 vote.
SECONDED:Frangas
VOTE
Benefield
Yes
Cloer
Yes
Crane
Yes
Frangas
Yes
Garcia
Yes
Harvey
No
Jahn
Excused
Kerr
Yes
Marshall
Yes
Massey
Yes
McCluskey
Yes
Judd
No
Vigil
Yes
Final YES: 10 NO: 2 EXC: 1 ABS: 0 FINAL ACTION: PASS