h_sa_2016a_2016-05-09t14:34:12z5 Hearing Summary
Date: 05/09/2016
Final
BILL SUMMARY for HB16-1468
HOUSE COMMITTEE ON STATE, VETERANS, & MILITARY AFFAIRS
| Votes: View--> | Action Taken: |
| Refer House Bill 16-1468 to the Committee of the W | PASS |
04:37 PM -- HB16-1468
The committee reconvened.
Representative K. Becker and Speaker of the House Hullinghorst, co-prime sponsors, presented House Bill 16-1468 to the committee. Pursuant to the Colorado Supreme Court's April 26, 2016, decision in BP America v. Colorado Department of Revenue, oil and gas producers may deduct any costs for transportation, manufacturing, and processing when valuing severed minerals for tax purposes. Beginning tax year 2016, the bill allows producers to deduct only their direct costs for the transportation, manufacturing, and processing of identifiable and measurable oil and gas.
Committee members discussed the bill with the sponsors.
04:55 PM -- Stan Dempsey and Travis Holland, representing the Colorado Petroleum Association, testified against the bill and responded to committee member questions.
05:20 PM -- Matt Samelson, representing Western Environmental Law Partners and Conservation Colorado, testified on the bill and responded to committee member questions.
05:25 PM
Representative Becker and Speaker Hullinghorst made concluding comments on the bill.
| BILL: | HB16-1468 | |
| TIME: | 05:35:05 PM | |
| MOVED: | Lontine | |
| MOTION: | Refer House Bill 16-1468 to the Committee of the Whole. The motion passed on a vote of 5-4. | |
| SECONDED: | Foote | |
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VOTE
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Foote
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Yes
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Humphrey
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No
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Leonard
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No
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Neville P.
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No
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Primavera
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Yes
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Tyler
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Yes
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Wist
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No
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Lontine
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Yes
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Ryden
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Yes
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Final YES: 5 NO: 4 EXC: 0 ABS: 0 FINAL ACTION: PASS
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05:36 PM
The committee adjourned.