h_bus_2017a_2017-02-28t13:30:11z2 Hearing Summary
Date: 02/28/2017
Location: LSB A
BILL SUMMARY for SB17-127
HOUSE COMMITTEE ON BUSINESS AFFAIRS AND LABOR
| Votes: View--> | Action Taken: |
| Refer Senate Bill 17-127 to the Committee of the W | PASS |
03:29 PM -- SB 17-127
Representative Pabon, sponsor, introduced Senate Bill 17-127. Under current law, parents who help to finance a child's mortgage loan are exempt from the mortgage loan originator regulations in state law. The bill expands the exemption to include any family member who helps to finance another family member for up to three loans per year, with or without interest compensation. The Board of Mortgage Loan Originators in the Department of Regulatory Agencies is directed to define "family member" by rule.
03:33 PM -- Dan Sweetser, Colorado Bar Association, testified in support of the bill.
03:36 PM
Representative Pabon made closing remarks.
| BILL: | SB17-127 | |
| TIME: | 03:36:12 PM | |
| MOVED: | Gray | |
| MOTION: | Refer Senate Bill 17-127 to the Committee of the Whole. The motion passed on a vote of 10-0. | |
| SECONDED: | Williams D. | |
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VOTE
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Arndt
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Yes
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Coleman
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Yes
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Garnett
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Excused
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Gray
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Yes
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Navarro
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Yes
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Nordberg
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Yes
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Rosenthal
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Excused
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Sias
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Yes
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Thurlow
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Yes
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Van Winkle
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Yes
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Williams D.
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Yes
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Winter
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Excused
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Kraft-Tharp
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Yes
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Final YES: 10 NO: 0 EXC: 3 ABS: 0 FINAL ACTION: PASS
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03:38 PM
The committee adjourned.