Bill Summary for Bill Number SB06-211

Date: 03/29/2006

Final
BILL SUMMARY for SB06-211

SENATE COMMITTEE ON BUSINESS, LABOR AND TECHNOLOGY

Votes: View-->	Action Taken:
Amendment L.001 (Attachment D). Senator Grossman Refer SB 211 to the Committee of the Whole, recomm	Pass Without Objection PASS

03:10 PM -- Senate Bill 06-211

Senator Grossman introduced his bill concerning the determination of dual resident trust taxation. The bill would change tax requirements for trusts held outside of Colorado that are moved to Colorado. He responded to questions from Senator Weins concerning which trusts are impacted by the bill. Senator Grossman indicated it would be applied to all trusts. He provided an amendment to the committee (Attachment D).

03:13 PM -- Sheryl Bollinger, ANG National Trust Bank, spoke in support of the legislation. She described the impact of the bill on her business with regard to out of state trusts.

03:16 PM -- Michael Valdez, Colorado Bar Association, spoke in support of the legislation.


BILL:	SB06-211
TIME:	03:17:01 PM
MOVED:	Tochtrop
MOTION:	Amendment L.001 (Attachment D). Senator Grossman explained the purpose of the amendment. The motion passed without objection.
SECONDED:
		VOTE
	Boyd
	Evans
	Kester
	Takis
	Wiens
	Tochtrop
	Veiga
Not Final YES: 0 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: Pass Without Objection


BILL:	SB06-211
TIME:	03:19:17 PM
MOVED:	Tochtrop
MOTION:	Refer SB 211 to the Committee of the Whole, recommend the consent calendar. The motion passed 7-0.
SECONDED:
		VOTE
	Boyd	Yes
	Evans	Yes
	Kester	Yes
	Takis	Yes
	Wiens	Yes
	Tochtrop	Yes
	Veiga	Yes
Final YES: 7 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: PASS

03:19 PM

The committee recessed.