Date: 04/25/2006

Final
SUMMARY for scr 06-005

SENATE COMMITTEE ON FINANCE

Votes: View--> Action Taken:
Motion to postpone indefinitely SCR 06-005. The m
Motion to refer SCR 06-005 to the Committee on App		PASS
FAIL


04:12 PM -- SCR06-005

Senator Johnson, prime sponsor, explained the provisions of SCR 06-005, which expands the homestead exemption program by allowing any senior homeowner to qualify if he or she has maintained any primary residence in Colorado for the immediate 10 years previous to the assessment date. He explained that the current structure of the program bothered him because seniors should not be penalized if they have to move from their homes. He stated that the expansion would allow for 60,000 additional seniors to qualify for the program which would cause a loss of revenue to counties and an increased cost to the state to reimburse counties. He discussed ways to make the resolution revenue neutral. He also commented on the possible need to make the program means-tested. He thought that his resolution would make the program more fair.

Senator Teck discussed the original intent of the senior homestead exemption program and stated that the state's residential property tax is low compared to other states. He thought that the program should be means-tested.

The following people testified on the bill:

04:20 PM -- Mr. Herman Stockinger, Colorado Department of Transportation, spoke in opposition to bill. He thought that Referendum C money should not be used to expand the program, only restore it. He discussed the resolution's impact on transportation funding.

04:21 PM -- Mr. Patrick Boyle, Colorado Assessor's Association, spoke in favor of the bill. He explained that the process for qualifying seniors for the exemption program is mostly done by counties. He expressed the concern that the expansion of the program would make it harder for the counties to administer the program. He indicated that the cost to administer the expansion of the program would depend on what system is created to verify where and the duration in which qualifying seniors lived.

Senator Teck expressed his concern about seniors renting out their property and then moving into the home to claim the exemption. Senator Sandoval noted that the fiscal note indicates that 29 FTE would be needed for counties to implement the expansion of the homestead program.

04:26 PM -- Ms. JoAnn Groff, State Property Tax Administrator, indicated that the senior homestead exemption does not impact the assessed value of properties, so it does not impact the residential assessment rate.

Senator Johnson closed by asking for support for his resolution and stated that the resolution would address the fairness of the senior homestead exemption program.
BILL:SCR 06-005
TIME: 04:28:37 PM
MOVED:Sandoval
MOTION:Motion to refer SCR 06-005 to the Committee on Appropriations with favorable recommendation. The motion failed on a 5 - 2 vote.
SECONDED:
VOTE
Brophy
No
Shaffer
No
Taylor
Yes
Teck
No
Tupa
No
Veiga
No
Sandoval
Yes
Not Final YES: 2 NO: 5 EXC: 0 ABS: 0 FINAL ACTION: FAIL


BILL:SCR 06-005
TIME: 04:29:09 PM
MOVED:Veiga
MOTION:Motion to postpone indefinitely SCR 06-005. The motion passed on a reversal of the previous vote (5 - 2).
SECONDED:
VOTE
Brophy
Yes
Shaffer
Yes
Taylor
No
Teck
Yes
Tupa
Yes
Veiga
Yes
Sandoval
No
Final YES: 5 NO: 2 EXC: 0 ABS: 0 FINAL ACTION: PASS