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7049A72AD2C75AE387258822006E8453 Hearing Summary




PUBLIC
BILL SUMMARY For HB22-1320

HOUSE COMMITTEE ON PUBLIC & BEHAVIORAL HEALTH & HUMAN SERVICES
Date Apr 12, 2022      
Location HCR 0112



HB22-1320 - Amended, referred to House Finance


02:07:11 PM  

Representative Kipp and Representative Larson, co-prime bill sponsors, presented House Bill 22-1320, concerning the Achieving a Better Life Experience (ABLE) Savings Program for individuals with disabilities. The bill modifies the administration and operation of accounts under the ABLE Savings Program. First, the bill allows a person other than the individual with a disability to open an ABLE savings account for the individual and to have signature authority over that account. Second, the bill prohibits the state from filing a claim against an ABLE savings account upon the account owner’s death for outstanding payments due for qualified disability expenses. Additionally, the bill allows taxpayers to deduct contributions to an ABLE savings account from their state taxable income. Expenditures from the account for non-qualified disability expenses are subject to tax recapture.

02:12:35 PM  
The bill sponsors responded to questions from the committee.
02:17:20 PM  

Angela Baier, representing CollegeInvest, testified in support of the bill.

Brent Jones, representing the National Association of Insurance and Financial Advisors NAIFA-CO, testified in support of the bill.

Daniel Bohle, representing self, testified in support of the bill.

The panelists and Representative Larson responded to questions from the committee.

02:28:15 PM  
Representative Kipp explained amendment L.001 (Attachment B).


02:29:34 PM
Motion Adopt amendment L.001 (Attachment B).
Moved Gonzales-Gutierrez
Seconded Young
Amabile
Bradfield
Cutter
Gonzales-Gutierrez
Hanks Excused
Holtorf
Jodeh
Pelton
Ricks
Williams
Young
Sirota
Michaelson Jenet
YES: 0   NO: 0   EXC: 1   ABS:  0   FINAL ACTION:  Pass Without Objection
02:29:36 PM  

Representative Larson explained amendment L.002 (Attachment C).



02:30:08 PM
Motion Adopt amendment L.002 (Attachment C).
Moved Gonzales-Gutierrez
Seconded Young
Amabile
Bradfield
Cutter
Gonzales-Gutierrez
Hanks Excused
Holtorf
Jodeh
Pelton
Ricks
Williams
Young
Sirota
Michaelson Jenet
YES: 0   NO: 0   EXC: 1   ABS:  0   FINAL ACTION:  Pass Without Objection
02:30:10 PM  
Representative Kipp and Representative Larson provided concluding remarks on the bill. Committee members commented on the bill.


02:32:53 PM
Motion Refer House Bill 22-1320, as amended, to the Committee on Finance.
Moved Gonzales-Gutierrez
Seconded Young
Amabile Yes
Bradfield Yes
Cutter Yes
Gonzales-Gutierrez Yes
Hanks Excused
Holtorf Yes
Jodeh Yes
Pelton Yes
Ricks Yes
Williams Yes
Young Yes
Sirota Yes
Michaelson Jenet Yes
Final YES: 12   NO: 0   EXC: 1   ABS:  0   FINAL ACTION:  PASS






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