Bill Summary for Bill Number HB06-1310

Date: 02/15/2006

Final
BILL SUMMARY for HB06-1310

HOUSE COMMITTEE ON FINANCE

Votes: View-->	Action Taken:
Moved amendment L.002 (the amendment reverts the f Refer House Bill 06-1310, as amended, to the Commi	Pass Without Objection PASS

01:41 PM -- House Bill 06-1310 - Concerning State Purchases of Net Operating Losses From Bioscience Companies

Representative Buescher, prime sponsor, explained the background events that let to House Bill 06-1310. Representative Buescher commented that appropriations to programs supported by tobacco settlement moneys are dictated by statutory formulas and are based on a forecast of settlement payments. When actual settlement receipts become known, supplemental appropriations are required to make the appropriations correspond to the statutory formulas. Representative Buescher said that some of these supplementals are very small. For example, the negative supplemental for the Dental Loan Repayment Program is $36 for FY 2005-06. House Bill 06-1310 will eliminate supplemental adjustments for several small programs and reduce the likelihood of supplemental adjustments for several others.

Representative Buescher continued saying that in addition, many tobacco-settlement supported programs receive appropriations first to a program fund, then a second appropriation from the program fund to the program itself. House Bill 06-1310 will eliminate many of these "double" appropriations by allowing transfers from the Tobacco Litigation Settlement Cash Fund to the program funds. Representative Buescher distributed amendment L.002 (Attachment A) and a staff memorandum on the fiscal assessment of proposed amendment HB 1310_L.002 (Attachment B).

After a brief committee discussion, Representative Vigil, Chairman, put the bill on the table for action. Representative Judd moved amendment L.002 for discussion purposes and Representative Buescher explained that the amendment reverts the funding calculation for the Fitzsimons Trust Fund back to current law and in doing so, decreases the fiscal impact. The following motions were made.


BILL:	HB06-1310
TIME:	01:46:09 PM
MOVED:	Judd
MOTION:	Moved amendment L.002 (the amendment reverts the funding calculation for the Fitzsimons Trust Fund back to current law and in doing so, decreases the fiscal impact). 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:	HB06-1310
TIME:	01:48:26 PM
MOVED:	Jahn
MOTION:	Refer House Bill 06-1310, as amended, to the Committee on Appropriations. The motion passed on a 13-0-0 vote.
SECONDED:	Benefield
		VOTE
	Benefield	Yes
	Cloer	Yes
	Crane	Yes
	Frangas	Yes
	Garcia	Yes
	Harvey	Yes
	Jahn	Yes
	Kerr	Yes
	Marshall	Yes
	Massey	Yes
	McCluskey	Yes
	Judd	Yes
	Vigil	Yes
Final YES: 13 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: PASS