Bill Summary for Bill Number HB05-1275

Final
BILL SUMMARY for HB05-1275

HOUSE COMMITTEE ON FINANCE

Votes:

Action Taken:

Refer HB 05-1275 to the Committee of the Whole. T

PASS

12:06 PM -- House Bill 05-1275 - Concerning the Extension of the Brownfield Tax Credit

Representative Sullivan, prime sponsor, explained that under current law Colorado provides an income tax credit for approved environmental remediation for the purposes of redevelopment of contaminated land. The tax credit is set to expire at the end of 2005. This bill would extend the income tax credit through the end of 2010.

The following persons testified:

12:08 PM -- Mr. Mike Beasley, Department of Local Affairs, testified in support of the legislation and discussed some of the projects that were funded by investments that qualify for the brownfield credit.

12:13 PM -- Mr. Roger Freeman, Attorney with the Environmental Community, testified in support of the legislation. Mr. Freeman commented on the number of cleanup projects that could not have been done without the state income tax credit.

12:16 PM -- Mr. Jeffrey Deckler, Colorado Department of Public Health and Environment, commented on the implementation of the credit.


BILL:	HB05-1275
TIME:	12:21:48 PM
MOVED:	McCluskey
MOTION:	Refer HB 05-1275 to the Committee of the Whole. The motion passed on a 12-1-0 vote.
SECONDED:	Frangas
		VOTE
	Benefield	Yes
	Cloer	No
	Crane	Yes
	Frangas	Yes
	Garcia	Yes
	Jahn	Yes
	Marshall	Yes
	Massey	Yes
	May M.	Yes
	McCluskey	Yes
	Witwer	Yes
	Judd	Yes
	Vigil	Yes
Final YES: 12 NO: 1 EXC: 0 ABS: 0 FINAL ACTION: PASS