s_lg_2016a_2016-02-16t14:03:38z1 Hearing Summary

Date: 02/16/2016

02:11 PM -- SB 16-115



Senator Martinez Humenik, prime sponsor, described the provisions of Senate Bill 15-115 that creates the Electronic Recording Technology Board in the Secretary of State's office (SOS) as a Type 1 transfer. She also distributed Amendment L.001 (Attachment B). The nine-member board is established as an enterprise and is authorized to issue revenue bonds. The board repeals in September 1, 2022, pending a sunset review. The board is authorized to impose a surcharge of up to $2 on all documents that a clerk and recorder retains for recording or filing between January 1, 2017, and December 31, 2021. If imposed, counties are required to collect the surcharge on behalf of the board and transmit it to the State Treasurer for deposit in the newly created Electronic Recording Technology Fund (fund). Revenue in the fund is TABOR-exempt and continuously appropriated to the board to be used for specified purposes. The bill repeals the SOS's power to ensure uniformity related to electronic filing systems and grants these powers to the board. The SOS is required to prepare an annual report that is published online about the grants that the board made in the prior fiscal year and also to report to the General Assembly before January 1, 2021, about the overall success of the grant program. The bill also extends the $1 surcharge that a clerk and recorder is currently required to collect and use for the county's core or electronic filing system until December 31, 2026. This surcharge was set to repeal June 30, 2017.



160216 AttachB.pdf



The following persons testified on the bill:



02:19 PM -- Tim Griesmer, Department of State, spoke in support of the bill and discussed the department's costs to implement the bill. He also spoke in support of Amendment L.001.



02:20 PM -- Shiela Reiner, Colorado County Clerks Association, explained that she is the Mesa County Clerk and Recorder and spoke in support of the bill.



02:21 PM -- Debra Johnson, Colorado County Clerks Association, explained that she is the City and County of Denver Clerk and Recorder and spoke in support of the bill. She also distributed a map of Colorado counties that have a maintenance cost shortage for recording systems due to the challenge of paying for such expenses (Attachment C).



160216 AttachC.pdf



02:27 PM -- Mike Rosser, Colorado Mortgage Lenders Association, spoke in support of the bill and identified electronic documents submitted by mortgage lenders.



02:30 PM -- Nicole Nies, Colorado Bar Association, spoke in support of the bill and discussed public access to electronic documents.



02:32 PM -- Don Booher, Land Title Association of Colorado, spoke in support of the bill.



02:38 PM



Ed DeCecco, Office of Legislative Legal Services, responded to questions from the committee about the bill.



02:40 PM -- Jenifer Waller, Colorado Bankers Association, spoke in support of the bill.



02:40 PM



The chair closed testimony and Senator Martinez Humenik closed her comments on the bill.

02:44 PM



The committee adjourned.