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s_fin_2017a_2017-04-27t10:35:42z3 Hearing Summary

Date: 04/27/2017

Location: SCR 357

Final

BILL SUMMARY for SB17-299



SENATE COMMITTEE ON FINANCE


Votes: View--> Action Taken:
Adopt amendment L.001 (Attachment A). The motion p

Refer Senate Bill 17-299, as amended, to the Commi
Pass Without Objection

PASS







11:54 AM -- SB17-299



Senators Holbert and Moreno, co-prime sponsors, presented Senate Bill 17-299, which allows a taxpayer that invests in an enterprise data center in Colorado to use a beneficial apportionment factor when allocating federal taxable income to Colorado. Senator Holbert discussed amendment L.001 (Attachment A) and a memo prepared on the fiscal impact of amendment L.001 (Attachment B). Senator Moreno responded to a committee question.



17SenateFin0427AttachA.pdf17SenateFin0427AttachA.pdf 17SenateFin0427AttachB.pdf17SenateFin0427AttachB.pdf



12:08 PM --
Adama Iwu, representing Visa, testified in support of the bill.



12:10 PM --
Carl Andersen, representing Visa, testified in support of the bill.



12:11 PM --
Jeff Kraft, representing the Governor's Office of Economic Development and International Trade (OEDIT), testified in support of the bill. Committee members received a letter of support from OEDIT (Attachment C).



17SenateFin0427AttachC.pdf17SenateFin0427AttachC.pdf



12:12 PM --
Loren Furman, representing the Colorado Association of Commerce and Industry, testified in support of the bill. Committee members received a letter of support from Technet (Attachment D). Mr. Kraft and Ms. Furman responded to committee questions.



17SenateFin0427AttachD.pdf17SenateFin0427AttachD.pdf



12:19 PM



Senator Holbert responded to committee questions.



12:22 PM --
Andrea Young, representing the Colorado Technology Association, testified in support of the bill.





12:23 PM

BILL: SB17-299
TIME: 12:24:09 PM
MOVED: Court
MOTION: Adopt amendment L.001 (Attachment A). The motion passed without objection.
SECONDED:
VOTE
Court
Kagan
Tate
Hill
Neville T.
YES: 0 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: Pass Without Objection




BILL: SB17-299
TIME: 12:24:51 PM
MOVED: Court
MOTION: Refer Senate Bill 17-299, as amended, to the Committee on Appropriations. The motion passed on a vote of 5-0.
SECONDED:
VOTE
Court
Yes
Kagan
Yes
Tate
Yes
Hill
Yes
Neville T.
Yes
Final YES: 5 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: PASS







12:26 PM



The committee adjourned.








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