h_fin_2016a_2016-04-27t13:38:15z3 Hearing Summary
Date: 04/27/2016
Final
BILL SUMMARY for SB16-165
HOUSE COMMITTEE ON FINANCE
| Votes: View--> | Action Taken: |
| Refer Senate Bill 16-165 to the Committee of the W | PASS |
04:43 PM
The committee recessed.
04:50 PM
The committee came back to order.
04:50 PM -- SB16-165
Representative Young, sponsor, introduced Senate Bill 16-165. Effective January 1, 2017, the bill expands the criteria that an insurance company may satisfy in order to qualify for a reduced insurance premium tax rate. Specifically, it removes the requirement that companies that maintain significant direct insurance operations perform specific operational functions in Colorado in order to qualify for the lower insurance premium tax paid by companies with home offices or regional home offices in Colorado. Representative Young distributed a handout to the committee (Attachment D).
16HouseFin0427AttachD.pdf
04:53 PM -- Mr. Nicholas Colglazier, representing C3, testified in support of the bill.
04:55 PM -- Mr. Christian Rataj, representing the National Association of Mutual Insurance Companies, testified in support of the bill.
| BILL: | SB16-165 | |
| TIME: | 05:05:40 PM | |
| MOVED: | Court | |
| MOTION: | Refer Senate Bill 16-165 to the Committee of the Whole. The motion passed on a vote of 11-0. | |
| SECONDED: | Roupe | |
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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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Yes
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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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Yes
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Sias
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Yes
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Van Winkle
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Yes
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Wilson
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Yes
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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: 11 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: PASS
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