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h_fin_2016a_2016-04-27t13:38:15z0 Hearing Summary

Date: 04/27/2016



Final

BILL SUMMARY for HB16-1433



HOUSE COMMITTEE ON FINANCE


Votes: View--> Action Taken:
Lay over House Bill 16-1433 till January 30, 2016. PASS







The committee was called to order. A quorum was present.



01:38 PM -- HB16-1433



Representatives Hamner and Rankin, co-prime sponsors, introduced House Bill 16-1433. Beginning in FY 2017-18, the bill caps the total amount of severance tax receipts deposited in the severance tax trust fund and the local government severance tax fund at $180 million adjusted annually for inflation. Any money above the cap is to be transferred to the newly created severance tax reserve fund. In addition, the bill refers a ballot question to the voters at the 2016 general election seeking voter approval for the state to retain and spend any severance tax revenue deposited in the reserve fund as a voter-approved revenue change to the TABOR limit. The sponsors respectfully asked the committee to postpone the bill indefinitely.

BILL: HB16-1433
TIME: 01:45:09 PM
MOVED: Kagan
MOTION: Lay over House Bill 16-1433 till January 30, 2016. This motion postpones the bill indefinitely. The motion passed on a vote of 11-0.
SECONDED: Roupe
VOTE
Becker K.
Yes
Conti
Yes
Garnett
Yes
Kagan
Yes
Pabon
Yes
Roupe
Yes
Sias
Yes
Van Winkle
Yes
Wilson
Yes
Foote
Yes
Court
Yes
Final YES: 11 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: PASS














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