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s_fin_2017a_2017-02-09t10:22:27z2 Hearing Summary

Date: 02/09/2017

Location: SCR 357

Final

BILL SUMMARY for SB17-149



SENATE COMMITTEE ON FINANCE


Votes: View--> Action Taken:
Postpone Senate Bill 17-149 indefinitely. The moti

Refer Senate Bill 17-149 to the Committee on Appro
PASS

FAIL







10:47 AM -- SB17-149



Senator Kagan, presented Senate Bill 17-149 which allows taxpayers to determine how they receive their income tax refunds. Beginning with tax year 2017, the Department of Revenue is required to provide taxpayers the opportunity to split their tax refund, if it is at least $25, among up to four of the following methods: paper check; direct deposit into one or more savings accounts; direct deposit into one or more checking accounts; and direct deposit to one or more CollegeInvest savings accounts. Committee discussion ensued on current law regarding methods for state income tax refunds.



10:57 AM --
Rich Jones, representing the Bell Policy Center, testified in support of the bill. Mr. Jones and Senator Kagan responded to committee questions.



11:10 AM -- Amber Egbert, representing the Department of Revenue, responded to a committee question regarding the number of state income tax refunds that are currently deposited into CollegeInvest savings accounts.





11:13 AM



Kate Watkins, Legislative Council Staff, came to the table to discuss the fiscal impact of the bill. Senator Kagan wrapped up his presentation of SB 17-149.

BILL: SB17-149
TIME: 11:13:42 AM
MOVED: Court
MOTION: Refer Senate Bill 17-149 to the Committee on Appropriations. The motion failed on a vote of 2-3.
SECONDED:
VOTE
Court
Yes
Kerr
Yes
Tate
No
Hill
No
Neville T.
No
YES: 2 NO: 3 EXC: 0 ABS: 0 FINAL ACTION: FAIL




BILL: SB17-149
TIME: 11:21:21 AM
MOVED: Hill
MOTION: Postpone Senate Bill 17-149 indefinitely. The motion passed on a vote of 3-2.
SECONDED:
VOTE
Court
No
Kerr
No
Tate
Yes
Hill
Yes
Neville T.
Yes
Final YES: 3 NO: 2 EXC: 0 ABS: 0 FINAL ACTION: PASS














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