H_BUS_2018A 03/08/2018 01:31:55 PM Committee Summary PUBLICSTAFF SUMMARY OF MEETINGHOUSE COMMITTEE ON BUSINESS AFFAIRS AND LABOR Date 03/08/2018 Attendance Arndt X Coleman X Garnett * Gray X Liston X Rosenthal X Sandridge X Sias X Thurlow X Van Winkle E Williams D. E Winter X Kraft-Tharp X Time 01:31:55 PM to 02:05:25 PM Place LSB A This Meeting was called to order by Kraft-Tharp This Report was prepared by Elizabeth Burger Hearing Items Action Taken hHB18-1248 Referred to the Committee of the Whole hSB18-138 Amended, referred to the Committee of the Whole hSB18-125 Referred to the Committee of the Whole HB18-1248 - Referred to the Committee of the Whole 01:32:03 PM Representatives Kraft-Tharp and Sias introduced House Bill 18-1248. Current law requires Colorado banks to protect the electronic fund transfers of each account holder and limits the account holder's liability for an unauthorized transfer to $50. This bill broadens the protections to include any consumer who enters into a transaction primarily for personal, family or household purposes and incorporates federal regulations on electronic fund transfers into state statute. Under the federal regulations, if a financial institution has provided the required disclosures to the consumer, the liability of a consumer for an unauthorized transfer is based on whether the consumer provides timely notice to the financial institution. Failure to provide timely notice increases the consumer's liability for the unauthorized transfer. 01:33:25 PM Jenifer Waller, Colorado Bankers Association, testified in support of the bill. She responded to questions from the committee. 01:44:14 PM Motion Refer House Bill 18-1248 to the Committee of the Whole. Moved Kraft-Tharp Seconded Garnett Arndt Yes Coleman Yes Garnett Yes Gray Yes Liston Yes Rosenthal Yes Sandridge Yes Sias Yes Thurlow Yes Van Winkle Excused Williams D. Excused Winter Yes Kraft-Tharp Yes Final YES: 11 NO: 0 EXC: 2 ABS: 0 FINAL ACTION: PASS SB18-138 - Amended, referred to the Committee of the Whole Attachment Tag File Name Attachment http://www2.leg.state.co.us/CLICS/CLICS2018A/commsumm.nsf/0/5C05E382B415...$File/180308 AttachA.pdf?OpenElement 180308 AttachA.pdf 01:44:33 PM Representatives Gray and LIston introduced Senate Bill 18-138. Under current law, alcohol cannot be transferred between two liquor licensees, and entities licensed for off-premises consumption generally must purchase alcohol from a wholesaler, with a few exceptions. The bill allows certain licensees to purchase alcohol inventory from a licensee whose license has been surrendered or revoked. In order for the alcohol inventory to be sold, there must be common ownership between the seller and purchaser, and the seller must: ⢠have surrendered its license or had it revoked within the last 60 days; ⢠return to the wholesaler all alcohol beverages that the seller purchased on credit; ⢠first offer the wholesaler a 30-day option to repurchase any alcohol initially sold by the wholesaler; ⢠possess proof that all alcohol purchased from wholesalers has been paid in full; and ⢠sell the alcohol inventory for only one licensed premises. The bill defines common ownership to mean at least a 10 percent ownership interest in both the seller and the purchaser's business, at the time one license is surrendered or revoked. The state licensing authority may not promulgate rules regulating the price of the inventory. The seller may deliver the alcohol to the purchaser, and the licensee that purchases the alcohol must retain evidence of the purchase. 01:47:49 PM Nick Hoover, Colorado Restaurant Association, testified in support of the bill and discussed the impetus behind the bill. Representative Liston distributed amendment L.002. [Attachment A]. Mr. Hoover responded to questions from the committee. 01:55:01 PM The committee discussed amendment L.002. 01:55:44 PM Motion Adopt amendment L.002 Moved Liston Seconded Gray Arndt Coleman Garnett Gray Liston Rosenthal Sandridge Sias Thurlow Van Winkle Excused Williams D. Excused Winter Kraft-Tharp YES: 0 NO: 0 EXC: 2 ABS: 0 FINAL ACTION: Pass Without Objection 01:56:06 PM Representatives Liston and Gray gave concluding remarks regarding the bill. 01:57:38 PM Motion Refer Senate Bill 18-138, as amended, to the Committee of the Whole. Moved Liston Seconded Garnett Arndt Yes Coleman Yes Garnett Yes Gray Yes Liston Yes Rosenthal Yes Sandridge Yes Sias Yes Thurlow Yes Van Winkle Excused Williams D. Excused Winter Yes Kraft-Tharp Yes Final YES: 11 NO: 0 EXC: 2 ABS: 0 FINAL ACTION: PASS SB18-125 - Referred to the Committee of the Whole 01:57:43 PM Rep. Lee introduced Senate Bill 18-125. This bill requires title insurance companies and agents to hold funds belonging to others in a fiduciary capacity and the Commissioner of Insurance to promulgate rules to that effect. A violation of this provision is an unfair or deceptive act. He responded to questions from the committee. 02:01:05 PM Peg Brown, Colorado Division of Insurance, responded to questions from the committee. 02:05:11 PM Motion Refer Senate Bill 18-125 to the Committee of the Whole. Moved Gray Seconded Winter Arndt Yes Coleman Yes Garnett Yes Gray Yes Liston Yes Rosenthal Yes Sandridge Yes Sias Yes Thurlow Yes Van Winkle Excused Williams D. Excused Winter Yes Kraft-Tharp Yes Final YES: 11 NO: 0 EXC: 2 ABS: 0 FINAL ACTION: PASS 02:05:25 PM Committee Adjourned