Date: 03/16/2006

Final
BILL SUMMARY for HB06-1347

HOUSE COMMITTEE ON FINANCE

Votes: View--> Action Taken:
Refer House Bill 06-1347 to the Committee on ApproPASS



11:13 AM -- House Bill 06-1347 - Concerning the Identity Theft and Financial Fraud Deterrence Act

Representative McGihon, prime sponsor, explained that House Bill 06-1347 creates the Identity Theft and Financial Fraud Board in the Department of Public Safety (DPS). It creates a task force for the investigation and prosecution of identity theft and financial fraud in the Colorado Bureau of Investigation (CBI) and creates the Colorado Identity Theft and Financial Fraud Cash Fund to be funded by surcharges on certain licenses and uniform commercial code (UCC) filings.

Representative McGihon continued the presentation saying the task force will assist local law enforcement agencies in the investigation and prosecution of identity theft and financial fraud. To accomplish this, the task force will provide educational materials, training, and consultation services to local police and sheriff departments, district attorneys, and the Attorney General. The task force will also collect data and analyze trends and patterns in identity theft and financial fraud. The board will oversee the operations of the task force.


The following persons testified:

11:14 AM -- Mr. Don Childears, Colorado Bankers Association, testified in support of the bill and said that this bill can impact everyone in the room. The legislation has a sunset, provisions for reporting requirements, and provides for a cash-funded program that can accept gifts and grants in addition to cash funding. Mr. Childears discussed the fees in current law that fund the program and commented on the privacy concerns that may affect the sharing of financial information.

The committee discussed the sharing of electronic data. Members of the committee discussed whether a task force is needed given the role of the Attorney General Office. Mr. Childears commented that Colorado would be the first state that creates a national model for a task force that would address the problem of identity theft.

11:31 AM -- Mr. John Stoffelor, Alliance for Retired Americans, testified in support of the bill and pointed out that most of the identity-theft crimes target seniors.

After a brief committee discussion, the bill was placed on the table for action.
BILL:HB06-1347
TIME: 11:33:17 AM
MOVED:Cloer
MOTION:Refer House Bill 06-1347 to the Committee on Appropriations. The motion passed on a 12-1-0 vote.
SECONDED:Judd
VOTE
Benefield
Yes
Cloer
Yes
Crane
Yes
Frangas
Yes
Garcia
Yes
Harvey
No
Jahn
Yes
Kerr
Yes
Marshall
Yes
Massey
Yes
McCluskey
Yes
Judd
Yes
Vigil
Yes
Final YES: 12 NO: 1 EXC: 0 ABS: 0 FINAL ACTION: PASS