H_BUS_2023A 03/15/2023 11:34:19 AM Committee Summary PUBLICSTAFF SUMMARY OF MEETINGHOUSE COMMITTEE ON BUSINESS AFFAIRS & LABOR Date 03/15/2023 Attendance Armagost X English * Frizell X Lieder X Lindstedt X Mabrey * Mauro X Taggart X Weinberg X Ricks X Amabile X Time 11:34:19 AM to 12:38:38 PM Place HCR 0112 This Meeting was called to order by Amabile This Report was prepared by Dan Graeve Hearing Items Action Taken hHB23-1181 Amended, referred to the Committee of the Whole HB23-1181 - Amended, referred to the Committee of the Whole Attachment Tag File Name Attachment A http://www2.leg.state.co.us/CLICS/CLICS2023A/commsumm.nsf/0/55926118A668...$File/Attachment A.pdf?OpenElement Attachment A.pdf Attachment B http://www2.leg.state.co.us/CLICS/CLICS2023A/commsumm.nsf/0/F737A85CCF85...$File/Attachment B.pdf?OpenElement Attachment B.pdf 11:34:28 AM Representative Mauro presented House Bill 23-181. The bill establishes requirements for guaranteed asset protection agreements offered by motor vehicle lenders. The sponsor provided written materials to the committee that can be found in Attachment A. 11:35:39 AM The bill sponsor responded to questions from the committee. 11:41:48 AM Jenifer Brandeberry, representing Go West Credit Union Association, testified to amend the bill. 11:45:36 AM Martha Fulford, representing the Colorado Department of Law, testified in opposition to the bill. 11:49:24 AM Ms. Fulford responded to questions from the committee. 11:59:09 AM Committee and witness discussion continued. 12:01:11 PM Mrs. Kelly Campbell, representing the American Property Casualty Insurance Association, testified in support of the bill. 12:02:41 PM Mr. Tom Keepers, representing the National Guaranteed Asset Protection Alliance, testified in support of the bill. 12:06:24 PM Mr. Matthew Groves, representing the Colorado Automobile Dealers Association, testified in support of the bill. 12:06:38 PM Mr. Gerald Abboud, representing the Powersports Dealers' Association of Colorado, testified in support of the bill. 12:13:12 PM Mr. Keepers responded to questions from the committee. 12:22:23 PM Mr. Groves and Mr. Keepers responded to questions from the committee. 12:22:24 PM The bill sponsor introduced amendment L.002 to the committee (Attachment B). 12:28:11 PM Motion Adopt amendment L.002 Moved Mauro Seconded Lieder Armagost English Frizell Lieder Lindstedt Mabrey Mauro Taggart Weinberg Ricks Amabile YES: 0 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: Pass Without Objection 12:28:12 PM Committee members provided final comments on the bill. 12:31:59 PM Representative Mauro provided comments on the bill. 12:38:28 PM Motion Refer House Bill 23-1181, as amended, to the Committee of the Whole. Moved Mauro Seconded English Armagost Yes English Yes Frizell Yes Lieder Yes Lindstedt Yes Mabrey Yes Mauro Yes Taggart No Weinberg Yes Ricks Yes Amabile Yes Final YES: 10 NO: 1 EXC: 0 ABS: 0 FINAL ACTION: PASS 12:38:38 PM The committee adjourned.