Bill Summary for Bill Number HB12-1039

Date: 02/08/2012

Final
BILL SUMMARY for HB12-1039

HOUSE COMMITTEE ON FINANCE

Votes: View-->	Action Taken:
Moved to postpone House Bill 12-1039 indefinitely. Refer House Bill 12-1039 to the Committee of the W	PASS FAIL

06:19 PM -- House Bill 12-1039 - Concerning Pay-As-You-Go Requirements

Representative Hullinghorst, prime sponsor, explained that House Bill 12-1039 requires that, prior to the passage of the Long Bill, no bill that requires a tax expenditure, or that results in either a decrease in revenue to the state or an increase in General Fund spending, may be passed favorably from the House or Senate Appropriations Committees to second reading unless the bill specifically identifies an equivalent budgetary offset. She continued saying that historically, bills that reduce state General Fund revenue or that increase General Fund spending have been routed through appropriations committees prior to being heard on second reading.

The committee discussed the pay-as-you-go requirements under the legislation. Representative Hullinghorst closed by saying that a tax expenditure is defined as a deduction from taxable income, a tax credit, a tax exemption, the lowering of a tax rate, the elimination of a tax, or the elimination or reduction of a fee.

The following persons testified:

06:33 PM -- Mr. Rich Jones, representing the Bell Policy Center, testified in support of the legislation and distributed a letter of support for the bill (Attachment K).

06:35 PM -- Mr. Terry Scanlon, representing the Colorado Fiscal Policy Institute, testified in support of the bill.


BILL:	HB12-1039
TIME:	06:39:17 PM
MOVED:	McCann
MOTION:	Refer House Bill 12-1039 to the Committee of the Whole. The motion failed on a vote of 6-7.
SECONDED:	Pabon
		VOTE
	Acree	No
	Beezley	No
	Conti	No
	Hullinghorst	Yes
	Joshi	No
	Kagan	Yes
	Kefalas	Yes
	Labuda	Yes
	McCann	Yes
	Pabon	Yes
	Swalm	No
	Swerdfeger	No
	DelGrosso	No

YES: 6 NO: 7 EXC: 0 ABS: 0 FINAL ACTION: FAIL


BILL:	HB12-1039
TIME:	06:45:31 PM
MOVED:	Swalm
MOTION:	Moved to postpone House Bill 12-1039 indefinitely. The motion passed on a vote of 7-6.
SECONDED:	Acree
		VOTE
	Acree	Yes
	Beezley	Yes
	Conti	Yes
	Hullinghorst	No
	Joshi	Yes
	Kagan	No
	Kefalas	No
	Labuda	No
	McCann	No
	Pabon	No
	Swalm	Yes
	Swerdfeger	Yes
	DelGrosso	Yes

Final YES: 7 NO: 6 EXC: 0 ABS: 0 FINAL ACTION: PASS

06:47 PM

The committee adjourned.