Bill Summary for Bill Number HB06-1398

Date: 04/27/2006

Final
BILL SUMMARY for HB06-1398

HOUSE COMMITTEE ON FINANCE

Votes: View-->	Action Taken:
Moved a conceptual amendment to House Bill 06-1398 Moved amendment L.001 (the amendment makes a techn Refer House Bill 06-1398, as amended, to the Commi	Pass Without Objection Pass Without Objection PASS

12:17 PM -- House Bill 06-1398 - Concerning Clarification of Transfers for State Sales and Use Taxes

Representative Plant, prime sponsor, distributed a JBC summary on House Bill 06-1398 (Attachment A) and explained the provisions in the bill. He also distributed amendment L.001 (Attachment B) and explained that it makes a technical correction. After explaining that the bill would clarify procedures used to divert state sales and use tax revenue to the Highway Users Tax Fund, Mr. Mike Mauer, Legislative Council Staff was asked to respond to committee questions.

12:24 PM -- Mr. Mike Mauer, responded to committee questions about the SB 97-1 triggers that divert money to the Highway Users Tax Fund and Capital Construction.

12:25 PM -- Mr. Ben Stein, Deputy Treasury, responded to committee questions. Mr. Stein commented that current law makes it difficult to administer the transfer of funds under SB 97-1 because of the disparity between Legislative Council Staff and the Governor's forecasts especially when an economic downturn begins. This law provides clarification for the administration of funds under SB 97-001.

12:27 PM -- Mr. Herman Stockinger, Colorado Department of Transportation, commented that the department is still monitoring the legislation and at this time is not taking a position on the bill.

After a brief committee discussion, Representative Vigil, Chairman, placed the bill on the table for action. Representative Plant distributed amendment L.001 (Attachment B) and commented that it makes a technical clarification. The motion was moved by Representative McCluskey and it passed without objection by those members present. Representative Judd moved a conceptual amendment to House Bill 06-1398 that would require the following. Rather than transferring about half of the estimated SB 97-1 diversion in February and a quarter in April from the Sales and Use Tax Holding Fund to the HUTF, the amendment would transfer about one quarter in October, one quarter in February, and one quarter in April. The final quarter would be transferred when the state's financial books are closed for the fiscal year; this is unchanged by the amendment. The motion passed without objection by those members present. Representative Garcia moved to refer House Bill 06-1398, as amended, to the Committee of the Whole. The motion passed on a 10-1-2 vote.


BILL:	HB06-1398
TIME:	12:28:57 PM
MOVED:	McCluskey
MOTION:	Moved amendment L.001 (the amendment makes a technical clarification). The motion passed without objection by those members present.
SECONDED:	Judd
		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:	HB06-1398
TIME:	12:31:21 PM
MOVED:	Judd
MOTION:	Moved a conceptual amendment to House Bill 06-1398 that would require the following. Rather than transferring about half of the estimated SB 97-1 diversion in February and a quarter in April from the Sales and Use Tax Holding Fund to the HUTF, the amendment would transfer about one quarter in October, one quarter in February, and one quarter in April. The final quarter would be transferred when the state's financial books are closed for the fiscal year; this is unchanged by the amendment. The motion passed without objection by those members present.
SECONDED:	McCluskey
		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:	HB06-1398
TIME:	12:31:58 PM
MOVED:	Garcia
MOTION:	Refer House Bill 06-1398, as amended, to the Committee of the Whole. The motion passed on a 10-1-2 vote.
SECONDED:	Judd
		VOTE
	Benefield	Yes
	Cloer	No
	Crane	Excused
	Frangas	Yes
	Garcia	Yes
	Harvey	Excused
	Jahn	Yes
	Kerr	Yes
	Marshall	Yes
	Massey	Yes
	McCluskey	Yes
	Judd	Yes
	Vigil	Yes
Final YES: 10 NO: 1 EXC: 2 ABS: 0 FINAL ACTION: PASS