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h_fin_2016a_2016-02-25t10:20:56z1 Hearing Summary

Date: 02/25/2016



Final

BILL SUMMARY for HB16-1089



HOUSE COMMITTEE ON FINANCE


Votes: View--> Action Taken:
Adopt amendment L.001 (Attachment C). The motion p

Adopt amendment L.002 (Attachment B). The motion p

Refer House Bill 16-1089, as amended, to the Commi
Pass Without Objection

Pass Without Objection

PASS







10:56 AM -- HB16-1089



Representative Moreno, sponsor, introduced House Bill 16-1089. The bill creates an income tax credit for contributions made to an endowment of a Colorado charitable organization. Eligible endowment funds do not include donor advised funds or funds for a private foundation. The credit is equal to 25 percent of the contribution and the maximum credit allowed is $25,000 per taxpayer per year. The credit is nonrefundable, but can be carried forward for five years, and is available starting in tax year 2016. Representative Moreno distributed amendment L.002 (Attachment B) to the committee. Representative Court distributed amendment L.001 (Attachment C) to the committee.



16HouseFin0225AttachB.pdf16HouseFin0225AttachB.pdf16HouseFin0225AttachC.pdf16HouseFin0225AttachC.pdf



11:03 AM -- Ms. Ali Mickelson, representing the Colorado Fiscal Institute, came to the table to testify against the bill.



11:09 AM -- Mr. Renny Fagan, representing the Colorado Nonprofit Association, came to the table to testify in support of the bill. He distributed a handout to the committee (Attachment D). He mentioned that Mile High United Way and Jewish Colorado support the bill.



16HouseFin0225AttachD.pdf16HouseFin0225AttachD.pdf



11:20 AM -- Ms. Marla Williams, representing Community First Foundation, came to the table to testify in support of the bill.



11:24 AM -- Ms. Mary Pat Rooney, representing the Denver Museum of Nature and Science, came to the table to testify in support of the bill.



11:27 AM -- Ms. Lydia McCoy, representing Ray of Hope Cancer Foundation, came to the table to testify in support of the bill.



11:31 AM -- Ms. Joanne Kelley, representing Colorado Association of Funders, came to the table to testify in support of the bill.

BILL: HB16-1089
TIME: 11:35:21 AM
MOVED: Court
MOTION: Adopt amendment L.001 (Attachment C). The motion passed without objection.
SECONDED: Pabon
VOTE
Becker K.
Conti
Garnett
Kagan
Pabon
Priola
Roupe
Van Winkle
Wilson
Foote
Court
YES: 0 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: Pass Without Objection




BILL: HB16-1089
TIME: 11:35:41 AM
MOVED: Court
MOTION: Adopt amendment L.002 (Attachment B). The motion passed without objection.
SECONDED: Pabon
VOTE
Becker K.
Conti
Garnett
Kagan
Pabon
Priola
Roupe
Van Winkle
Wilson
Foote
Court
YES: 0 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: Pass Without Objection




BILL: HB16-1089
TIME: 11:36:07 AM
MOVED: Kagan
MOTION: Refer House Bill 16-1089, as amended, to the Committee on Appropriations. The motion passed on a vote of 9-2.
SECONDED: Garnett
VOTE
Becker K.
Yes
Conti
Yes
Garnett
Yes
Kagan
Yes
Pabon
Yes
Priola
Yes
Roupe
Yes
Van Winkle
No
Wilson
Yes
Foote
Yes
Court
No
Final YES: 9 NO: 2 EXC: 0 ABS: 0 FINAL ACTION: PASS










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