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s_fin_2016a_2016-02-18t11:26:27z0 Hearing Summary

Date: 02/18/2016



Final

BILL SUMMARY for HB16-1049



SENATE COMMITTEE ON FINANCE


Votes: View--> Action Taken:
Refer House Bill 16-1049 to the Committee of the W PASS





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



11:26 AM -- HB16-1049



Senator Hill, co-prime sponsor, presented House Bill 1049, which modifies the definition of the type of institution that must be used to set up an escrow account for holding the proceeds of a sale of intrastate securities to be a "depository institution" rather than a specific type of financial institution. It also allows the escrow account to be terminated and its proceeds to be disbursed when the minimum offering amount has been raised rather than the maximum amount. Senator Hill responded to a question about whether there is an anticipated fiscal impact of the bill.

BILL: HB16-1049
TIME: 11:30:18 AM
MOVED: Hill
MOTION: Refer House Bill 16-1049 to the Committee of the Whole with a recommendation that it be placed on the consent calendar. The motion passed on a vote of 5-0.
SECONDED:
VOTE
Holbert
Yes
Johnston
Yes
Kerr
Yes
Hill
Yes
Neville T.
Yes
Final YES: 5 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: PASS












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