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s_sa_2017a_2017-04-24t13:52:10z1 Hearing Summary

Date: 04/24/2017

Location: SCR 357

Final

BILL SUMMARY for HB17-1026



SENATE COMMITTEE ON STATE, VETERANS, & MILITARY AFFAIRS


Votes: View--> Action Taken:
Postpone House Bill 17-1026 indefinitely using a r

Refer House Bill 17-1026 to the Committee of the W
PASS

FAIL







01:55 PM -- HB17-1026



Senator Jones, sponsor, presented House Bill 17-1026 to the committee. A reverse mortgage provides a cash advance to the borrower based on the equity in the borrower's primary residence. Under current law, the borrower must repay the advance if he or she does not occupy the home as their primary residence, with exceptions for temporary absences of up to 60 days or, if the property is adequately secured, up to one year. The reengrossed bill, recommended by the Wildfire Matters Review Committee (committee), requires that, in 2017, the committee examine issues related to exceptions to the primary residence requirement for borrowers who are temporarily unable to occupy their home due to a natural disaster or an incident beyond the borrower's control that makes the home uninhabitable. The bill is repealed September 1, 2018.



01:58 PM --
Paul Weissmann, representing himself, testified in support of the bill.





02:04 PM



The committee recessed.





02:04 PM



The committee reconvened.



Senator Jones wrapped up his presentation of the bill.

BILL: HB17-1026
TIME: 02:05:32 PM
MOVED: Court
MOTION: Refer House Bill 17-1026 to the Committee of the Whole. The motion failed on a vote of 2-3.
SECONDED:
VOTE
Court
Yes
Fenberg
Yes
Hill
No
Sonnenberg
No
Marble
No
YES: 2 NO: 3 EXC: 0 ABS: 0 FINAL ACTION: FAIL




BILL: HB17-1026
TIME: 02:06:36 PM
MOVED: Marble
MOTION: Postpone House Bill 17-1026 indefinitely using a reversal of the previous roll call. There was no objection to the use of the reverse roll call, therefore, the bill was postponed indefinitely. The motion passed on a vote of 3-2.
SECONDED:
VOTE
Court
No
Fenberg
No
Hill
Yes
Sonnenberg
Yes
Marble
Yes
Final YES: 3 NO: 2 EXC: 0 ABS: 0 FINAL ACTION: PASS














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