S_FIN_2016A 02/18/2016 11:26:27 AM Committee Summary
Final
STAFF SUMMARY OF MEETING
SENATE COMMITTEE ON FINANCE
| Date: | 02/18/2016 |
ATTENDANCE
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| Time: | 11:26 AM to 11:44 AM |
Holbert
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X
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Johnston
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*
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| Place: | LSB B |
Kerr
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X
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Hill
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X
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| This Meeting was called to order by |
Neville T.
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X
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| Senator Neville T. | |||
| This Report was prepared by | |||
| Kori Donaldson | |||
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X = Present, E = Excused, A = Absent, * = Present after roll call
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| Bills Addressed: | Action Taken: | ||
| HB16-1049 SB16-115 SB16-125 |
Referred to the Committee of the Whole - Consent Calendar Referred to Appropriations Amended, Referred to the Committee of the Whole - Consent Calendar |
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The committee was called to order. A quorum was present.
11:26 AM -- HB16-1049
Senator Hill, co-prime sponsor, presented House Bill 1049, which modifies the definition of the type of institution that must be used to set up an escrow account for holding the proceeds of a sale of intrastate securities to be a "depository institution" rather than a specific type of financial institution. It also allows the escrow account to be terminated and its proceeds to be disbursed when the minimum offering amount has been raised rather than the maximum amount. Senator Hill responded to a question about whether there is an anticipated fiscal impact of the bill.
| BILL: | HB16-1049 | |
| TIME: | 11:30:18 AM | |
| MOVED: | Hill | |
| MOTION: | Refer House Bill 16-1049 to the Committee of the Whole with a recommendation that it be placed on the consent calendar. The motion passed on a vote of 5-0. | |
| SECONDED: | ||
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VOTE
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Holbert
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Yes
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Johnston
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Yes
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Kerr
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Yes
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Hill
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Yes
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Neville T.
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Yes
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Final YES: 5 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: PASS
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11:30 AM -- SB16-115
Senator Martinez-Humenik, prime sponsor, presented Senate Bill 16-115, which creates the Electronic Recording Technology Board (board) in the Secretary of State's office (SOS) as a Type 1 transfer. 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.
| BILL: | SB16-115 | |
| TIME: | 11:34:55 AM | |
| MOVED: | Hill | |
| MOTION: | Refer Senate Bill 16-115 to the Committee on Appropriations. The motion passed on a vote of 5-0. | |
| SECONDED: | ||
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VOTE
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Holbert
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Yes
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Johnston
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Yes
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Kerr
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Yes
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Hill
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Yes
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Neville T.
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Yes
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Final YES: 5 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: PASS
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11:35 AM -- SB16-125
Senator Holbert, prime sponsor, presented Senate Bill 16-125, which allows the board of directors of a credit union to appoint an audit committee in lieu of a supervisory committee, provided the audit committee performs the statutory duties of a supervisory committee. It also allows a credit union to provide reasonable compensation to an officer, director, or committee member for his or her service.
11:37 AM -- Mr. Austin DeBey, representing the Mountain West Credit Union Association, testified in support of the bill.
11:41 AM
Senator Holbert distributed and explained Amendment L.003 (Attachment A).
16SenateFin0218AttachA.pdf
| BILL: | SB16-125 | |
| TIME: | 11:42:18 AM | |
| MOVED: | Holbert | |
| MOTION: | Adopt Amendment L.003 (Attachment A). The motion passed without objection. | |
| SECONDED: | ||
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VOTE
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Holbert
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Johnston
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Kerr
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Hill
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Neville T.
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YES: 0 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: Pass Without Objection
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| BILL: | SB16-125 | |
| TIME: | 11:44:06 AM | |
| MOVED: | Holbert | |
| MOTION: | Refer Senate Bill 16-125, as amended, to the Committee of the Whole, with a recommendation that it be placed on the consent calendar. The motion passed on a vote of 5-0. | |
| SECONDED: | ||
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VOTE
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Holbert
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Yes
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Johnston
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Yes
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Kerr
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Yes
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Hill
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Yes
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Neville T.
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Yes
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YES: 5 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: PASS
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11:44 AM
The committee adjourned.