S_FIN_2019A 02/12/2019 02:03:19 PM Committee Summary

Senator Crowder, bill sponsor, indicated his intent that the bill be postponed indefinitely.

Senator Cooke, bill sponsor, introduced Senate Bill 19-106.  The bill would allow peace officers to vote on withdrawing from local retirement plans in favor of the Fire and Police Pension Association (FPPA).  Senator Zenzinger, bill sponsor, commented on the bill.  The bill sponsors responded to questions from the committee regarding pension risk management, distinctions between defined benefit and defined contribution plans, and the voting threshold defined by the bill.

The bill sponsors responded to questions from the committee related to retirement fund solvency and the impact of peace officers' careers on retirement plans.

Tim Mullen, Colorado County Officials and Employees Retirement Association (CCOERA), gave testimony against the bill and distributed a handout (Attachment A).

Elizabeth Price, CCOERA, gave testimony against the bill.  Dax Rizo, International City/County Management Association Retirement (ICMA), gave testimony against the bill.  Tom Pfeifle, El Paso County Defined Benefit Plan, gave testimony against the bill.

Mr. Pfeifle and Mr. Mullen responded to questions from the committee regarding harm done to individuals who remain when some depart the plan.  Mr. Pfeifle responded to a further question from the committee regarding the vote share required for a department to withdraw.

Sheriff Jeff Shrader, Jefferson County Sheriff, testified in support of the bill.  Sheriff Shrader and Senator Zenzinger responded to questions from the committee about the ages of officers who seek other employment for retirement purposes and how other plans make up benefit differences over current retirement plans.  Sheriff Shrader clarified the benefits of the FPPA plan.

Sheriff Shannon Byerly, Custer County Sheriff, testified in support of the bill.

Captain Mike Loberg, Larimer County Sheriff's Office, testified in support of the bill. Captain Loberg responded to a question from the committee regarding the voting threshold in the bill.

Lieutenant Chad Bingham, Jefferson County Sheriff's Office, testified in support of the bill.  Lt. Bingham responded to a question from the committee regarding personal retirement planning.

Mike Drumright, Colorado Fraternal Order of Police, testified in support of the bill.

Sheriff Sean Smith, La Plata County Sheriff, testified in support of the bill.  Senator Zenzinger responded to comments from the committee regarding retirement plans.

Senator Tate moved Amendment L.006 (Attachment C). Senator Cooke described the amendment. The bill sponsors responded to a question from the committee regarding the timing of withdrawal.

Senator Lundeen described Amendment L.004 (Attachment D). Senators Cooke and Zenzinger responded to the amendment and a clarifying question from the committee.

Committee members made closing comments on the bill.

Senator Coram, bill sponsor, introduced Senate Bill 19-067. The bill was originally heard by the Senate Finance Committee on January 29.  Witness testimony was heard at that meeting.

Senator Coram distributed Amendment L.004 (Attachment E), Amendment L.005 (Attachment F), and a handout describing the bill (Attachment G).

The committee recessed.

The committee reconvened.

Senator Gardner, bill sponsor, introduced Senate Bill 19-130. The bill simplifies the collection of sales tax by retailers without a physical presence in Colorado.  Senator Gardner began comments on the issues addressed by the bill.

Senator Gardner responded to questions from the committee regarding the purpose of the bill, and continued his comments on the bill. Senator Gardner responded to a question from the committee regarding varied tax rates across Colorado.

Senator Gardner continued discussing the issues addressed by the bill.

Senator Gardner described the effects of the bill. He asked that the bill be laid over.

Kevin Bommer, Colorado Municipal League, testified against the bill.  Mr. Bommer responded to questions from the committee.

Mr. Bommer responded to questions from the bill sponsor regarding destination sourcing for tax collection and home rule municipalities.

Committee members commented on the bill and the issues it seeks to address.