h_fin_2016a_2016-04-13t13:32:26z2 Hearing Summary
Date: 04/13/2016
Final
BILL SUMMARY for HB16-1003
HOUSE COMMITTEE ON FINANCE
| Votes: View--> | Action Taken: |
| Adopt amendment L.003 (Attachment C). The motion p Refer House Bill 16-1003, as amended, to the Commi |
Pass Without Objection PASS |
03:55 PM -- HB16-1003
Representatives Pettersen and Young, co-prime sponsors, introduced House Bill 16-1003. The bill alters the income tax deduction for contributions to qualifying college savings accounts, and the deduction for interest earnings on or withdrawals from these savings accounts to the extent that they are used for qualifying higher education expenses and are not already excluded from federal taxable income. Beginning in tax year 2017, qualifying taxpayers may deduct a percentage of these qualifying contributions, interest earnings, and withdrawals from taxable income based on their adjusted gross income. The sponsors distributed amendment L.003 (Attachment C) and a fiscal memorandum (Attachment D).
16HouseFin0413AttachC.pdf 16HouseFin0413AttachD.pdf
04:00 PM -- Ms. Ali Mickelson, representing the Colorado Fiscal Institute, testified in support of the bill. She answered committee questions.
| BILL: | HB16-1003 | |
| TIME: | 04:05:50 PM | |
| MOVED: | Court | |
| MOTION: | Adopt amendment L.003 (Attachment C). The motion passed without objection. | |
| SECONDED: | Pabon | |
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VOTE
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Becker K.
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Conti
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Garnett
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Kagan
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Pabon
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Roupe
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Sias
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Van Winkle
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Wilson
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Foote
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Court
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YES: 0 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: Pass Without Objection
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| BILL: | HB16-1003 | |
| TIME: | 04:10:13 PM | |
| MOVED: | Court | |
| MOTION: | Refer House Bill 16-1003, as amended, to the Committee on Appropriations. The motion passed on a vote of 6-4. | |
| SECONDED: | Garnett | |
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VOTE
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Becker K.
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Yes
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Conti
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No
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Garnett
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Yes
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Kagan
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Yes
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Pabon
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Yes
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Roupe
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Excused
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Sias
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No
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Van Winkle
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No
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Wilson
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No
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Foote
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Yes
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Court
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Yes
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Final YES: 6 NO: 4 EXC: 1 ABS: 0 FINAL ACTION: PASS
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