House Committee on Finance (04/26/2012)

Final
STAFF SUMMARY OF MEETING

HOUSE COMMITTEE ON FINANCE

Date:	04/26/2012	ATTENDANCE

Time:	10:31 AM to 11:06 AM	Acree	X
		Beezley	X
Place:	LSB A	Conti	X
		Holbert	X
This Meeting was called to order by		Hullinghorst	X
	Representative DelGrosso	Kagan	X
		Kefalas	X
This Report was prepared by		Labuda	X
	Ron Kirk	McCann	X
		Pabon	X
		Swalm	X
		Swerdfeger	X
		DelGrosso	X
		X = Present, E = Excused, A = Absent, * = Present after roll call

Bills Addressed:		Action Taken:
HB12-1327		Referred to Appropriations

10:32 AM -- House Bill 12-1327 -- Concerning Surety Bond Requirements for Towing Carriers

Representative Coram, prime sponsor, explained that House Bill 12-1327 repeals the requirement that a towing carrier maintain a $50,000 surety bond to pay a civil penalty assessed against it by the Public Utilities Commission (PUC). He explained that failure to pay a fine or civil penalty will result in the immediate revocation of the towing carrier's operating authority, a five-year prohibition on reapplying for a new authority, and a five-year disqualification from obtaining or renewing any operating authority.

The committee discussed the economic impact of the bond requirement on the towing carrier industry.

The following persons testified:

10:42 AM -- Mr. Ron Jack, Colorado Public Utilities Commission, Department of Regulatory Agencies, responded to questions about the fee requirements in the bill. He noted that the removal of the bond requirement will save the industry about $150,000 per year.

10:48 AM -- Mr. Chuck Ford, representing the Towing and Recovery Professionals of Colorado, testified in support of the bill. Mr. Ford said that the bonding requirement will result in a cost savings for the industry.

11:03 AM -- Ms. Clare Pramuk, Legislative Council Staff, responded to questions about the fiscal note.


BILL:	HB12-1327
TIME:	11:05:35 AM
MOVED:	Holbert
MOTION:	Refer House Bill 12-1327 to the Committee on Appropriations. The motion passed on a vote of 12-0, with 1 member excused.
SECONDED:	Acree
		VOTE
	Acree	Yes
	Beezley	Excused
	Conti	Yes
	Holbert	Yes
	Hullinghorst	Yes
	Kagan	Yes
	Kefalas	Yes
	Labuda	Yes
	McCann	Yes
	Pabon	Yes
	Swalm	Yes
	Swerdfeger	Yes
	DelGrosso	Yes

Final YES: 12 NO: 0 EXC: 1 ABS: 0 FINAL ACTION: PASS

11:06 AM

The committee adjourned.