BILL SUMMARY for HB09-1035
SENATE COMMITTEE ON FINANCE
|Votes: View--> ||Action Taken: |
|Refer House Bill 09-1035 to the Committee on Appro||PASS|
11:06 AM -- House Bill 09-1035
Senator Heath, prime sponsor, presented House Bill 09-1035, which allows certain clean technology and medical device firms to receive refunds on sales and use tax paid on the purchase of equipment used in research and development. Senator Heath provided background information about the reasons for the bill and explained that it is recommended by the Joint Select Committee on Job Creation and Economic Growth. He stated that the bill will assist small businesses that have 50 employees or less. He also explained that the bill was amended to state that the refund would only be available in years where there is sufficient revenue to allow General Fund revenues to increase by the maximum allowed six percent.
The following persons testified on the bill:
11:13 AM -- Mr. Larry Lansing, representing the Colorado Bioscience Association, testified in support of the bill. He distributed a letter of support for the bill from Solix Biofuels (Attachment D). Mr. Lansing provided background information about Beacon Biotechnology, the company where he is employed, and explained the medical technology it is developing.
Senator Sandoval closed public testimony.
|TIME: || 11:17:17 AM|
|MOTION:||Refer House Bill 09-1035 to the Committee on Appropriations. The motion passed 7-0. |
Final YES: 7 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: PASS