h_ed_2016a_2016-03-07t13:32:09z2 Hearing Summary
Date: 03/07/2016
Final
BILL SUMMARY for HB16-1003
HOUSE COMMITTEE ON EDUCATION
| Votes: View--> | Action Taken: |
| Refer House Bill 16-1003 to the Committee on Finan | PASS |
04:33 PM -- HB16-1003
Representative Lee called the committee back to order. Representatives Pettersen and Young, co-prime sponsors, presented House Bill 16-1003, which 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. Representatives Young and Pettersen answered questions from the committee.
04:49 PM
The following people testified:
04:49 PM -- Ali Mickelson, representing the Colorado Fiscal Institute, testified in support of the bill.
04:55 PM
Representative Young made additional comments in response to questions from the committee.
04:56 PM -- Logan Brock, representing himself, testified in opposition to the bill. Mr. Brock answered questions from the committee.
05:03 PM -- Rachel Knoche, representing herself, testified in support of the bill.
05:07 PM -- Danielle Meltz, representing herself, testified in support of the bill.
05:10 PM -- Duy Pham, representing Bell Policy Center, testified in support of the bill. Mr. Pham answered questions from the committee.
05:17 PM -- Chris Muntean, representing the Department of Revenue, answered questions from the committee.
05:19 PM
Representative Pettersen answered questions from the committee.
05:20 PM
Kate Watkins, representing Legislative Council Staff, answered questions from the committee.
05:21 PM
Jason Gelender, representing Office of Legislative Legal Services, answered questions from the committee.
05:23 PM
Representative Pettersen made concluding remarks about the bill.
05:24 PM
Committee discussion ensued.
| BILL: | HB16-1003 | |
| TIME: | 05:27:57 PM | |
| MOVED: | Pettersen | |
| MOTION: | Refer House Bill 16-1003 to the Committee on Finance. The motion passed on a vote of 6-5. | |
| SECONDED: | Garnett | |
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VOTE
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Buckner
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Yes
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Everett
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No
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Fields
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Yes
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Garnett
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Yes
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Lundeen
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No
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Moreno
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Yes
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Priola
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No
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Wilson
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No
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Windholz
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No
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Lee
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Yes
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Pettersen
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Yes
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Final YES: 6 NO: 5 EXC: 0 ABS: 0 FINAL ACTION: PASS
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05:29 PM
Representative Lee recessed the committee.