Bill Summary for Bill Number SB12-087

Date: 03/22/2012

Final
BILL SUMMARY for SB12-087

HOUSE COMMITTEE ON FINANCE

Votes: View-->	Action Taken:
Moved Amendment L.001 (Attachment C). The motion p Refer Senate Bill 12-087, as amended, to the Commi	Pass Without Objection PASS

10:30 AM -- Senate Bill 12-087 - Concerning Refunds on Property Taxes That Are Erroneously Collected

Representative Kerr J., prime sponsor, distributed a handout on Senate Bill 12-087 (Attachment B) and explained the provisions of the bill. He noted that under current law, any property taxes illegally or erroneously collected, and delinquent interest on that collection, must be refunded to the taxpayer. Generally, interest on the refunded moneys accrues from the date payment of the taxes and delinquent interest was received by the county treasurer. Representative Kerr closed by noting that under the bill, interest on the refunded money will begin to accrue either from the date a complete abatement petition is filed with the board of county commissioners or the date the taxes are paid, whichever is later.

The committee discussed the interest rate that is used for purposes of refunding property taxes that are erroneously collected. Representative Kerr noted that the rate is set at 12 percent.

The following persons testified:

10:48 AM -- Mr. Matt Poling, representing the Building Owners and Managers Association (BOMA), testified in opposition of the bill. The committee discussed the abatement and appeal process used by persons who appeal their property valuation. Mr. Poling closed by discussing the 12 percent interest rate used for calculating property tax refunds.

11:01 AM -- Mr. John Lefebvre, representing the Colorado County Treasurers' Association, testified in support of the bill and discussed the abatement process that is allowed under current law.

11:14 AM -- Mr. Ted Leighty, representing the Colorado Association of Realtors, testified in opposition of the bill. He noted that current law works well and the interest charge of 12 percent is fair to taxpayers.

11:27 AM -- Mr. Steve Ellington, representing the Colorado County Treasurers' Association, testified in support of the legislation.

11:42 AM -- Mr. Paul Jacobs, representing the Colorado Assessor's Association, testified in support of the bill. Mr. Jacobs discussed the abatement process for the City and County of Denver and the interest rate that is used for purposes of refunding money back to taxpayers.


BILL:	SB12-087
TIME:	12:09:30 PM
MOVED:	Labuda
MOTION:	Moved Amendment L.001 (Attachment C). The motion passed without objection.
SECONDED:	Hullinghorst
		VOTE
	Acree
	Beezley
	Conti
	Holbert
	Hullinghorst
	Kagan
	Kefalas
	Labuda
	McCann
	Pabon
	Swalm
	Swerdfeger
	DelGrosso

YES: 0 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: Pass Without Objection


BILL:	SB12-087
TIME:	12:11:55 PM
MOVED:	Labuda
MOTION:	Refer Senate Bill 12-087, as amended, to the Committee of the Whole. The motion passed on a vote of 7-5, with 1 member excused.
SECONDED:	Hullinghorst
		VOTE
	Acree	Yes
	Beezley	No
	Conti	No
	Holbert	Excused
	Hullinghorst	Yes
	Kagan	Yes
	Kefalas	Yes
	Labuda	Yes
	McCann	No
	Pabon	Yes
	Swalm	No
	Swerdfeger	Yes
	DelGrosso	No

Final YES: 7 NO: 5 EXC: 1 ABS: 0 FINAL ACTION: PASS