h_agr_2016a_2016-02-22t13:30:00z1 Hearing Summary

Date: 02/22/2016

01:33 PM -- HB 16-1194



Representatives Mitsch Bush and J Becker presented House Bill 16-1194, concerning a temporary income tax deduction for a portion of lease payments received by a qualified taxpayer for leasing the taxpayer's agricultural asset to an eligible beginning farmer or rancher. Representative Mitsch Bush distributed a fact sheet regarding the bill (Attachment A). The bill creates an income tax deduction for taxpayers that lease an agricultural asset, defined as land, crops, livestock, livestock facilities, farm equipment, grain storage, or irrigation equipment, to a beginning farmer or rancher satisfying certain qualifications.



160222 AttachA.pdf



Representative Mitsch Bush also distributed and read testimony from Jo Stanko, Stanko Ranch, to the committee (Attachment B).



160222 AttachB.pdf



The following persons testified on the bill:



01:43 PM -- James Craig, United Veterans Committee of Colorado (UVCC), spoke in support of the bill.



01:47 PM -- Steve Holdren, Colorado Livestock Association, spoke in support of the bill.



01:49 PM -- Paula Sarlls, President, Women Marine's Association, spoke in support of the bill.



01:50 PM -- Denny Calderwood, Colorado Farm Bureau, spoke in support of the bill and responded to questions from the committee.



01:56 PM -- Dan Graeve, Rocky Mountain Farmers Union and True Roots Farm, spoke in support of the bill and responded to questions from the committee.



02:01 PM -- Harrison Topp, Rocky Mountain Farmers Union, spoke in support of the bill.