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h_fin_2016a_2016-04-27t13:38:15z3 Hearing Summary

Date: 04/27/2016



Final

BILL SUMMARY for SB16-165



HOUSE COMMITTEE ON FINANCE


Votes: View--> Action Taken:
Refer Senate Bill 16-165 to the Committee of the W PASS







04:43 PM



The committee recessed.






04:50 PM



The committee came back to order.





04:50 PM -- SB16-165



Representative Young, sponsor, introduced Senate Bill 16-165. Effective January 1, 2017, the bill expands the criteria that an insurance company may satisfy in order to qualify for a reduced insurance premium tax rate. Specifically, it removes the requirement that companies that maintain significant direct insurance operations perform specific operational functions in Colorado in order to qualify for the lower insurance premium tax paid by companies with home offices or regional home offices in Colorado. Representative Young distributed a handout to the committee (Attachment D).



16HouseFin0427AttachD.pdf16HouseFin0427AttachD.pdf



04:53 PM -- Mr. Nicholas Colglazier, representing C3, testified in support of the bill.



04:55 PM -- Mr. Christian Rataj, representing the National Association of Mutual Insurance Companies, testified in support of the bill.

BILL: SB16-165
TIME: 05:05:40 PM
MOVED: Court
MOTION: Refer Senate Bill 16-165 to the Committee of the Whole. 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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