s_sa_2017a_2017-04-24t13:52:10z1 Hearing Summary
Date: 04/24/2017
Location: SCR 357
BILL SUMMARY for HB17-1026
SENATE COMMITTEE ON STATE, VETERANS, & MILITARY AFFAIRS
| Votes: View--> | Action Taken: |
| Postpone House Bill 17-1026 indefinitely using a r Refer House Bill 17-1026 to the Committee of the W |
PASS FAIL |
01:55 PM -- HB17-1026
Senator Jones, sponsor, presented House Bill 17-1026 to the committee. A reverse mortgage provides a cash advance to the borrower based on the equity in the borrower's primary residence. Under current law, the borrower must repay the advance if he or she does not occupy the home as their primary residence, with exceptions for temporary absences of up to 60 days or, if the property is adequately secured, up to one year. The reengrossed bill, recommended by the Wildfire Matters Review Committee (committee), requires that, in 2017, the committee examine issues related to exceptions to the primary residence requirement for borrowers who are temporarily unable to occupy their home due to a natural disaster or an incident beyond the borrower's control that makes the home uninhabitable. The bill is repealed September 1, 2018.
01:58 PM -- Paul Weissmann, representing himself, testified in support of the bill.
02:04 PM
The committee recessed.
02:04 PM
The committee reconvened.
Senator Jones wrapped up his presentation of the bill.
| BILL: | HB17-1026 | |
| TIME: | 02:05:32 PM | |
| MOVED: | Court | |
| MOTION: | Refer House Bill 17-1026 to the Committee of the Whole. The motion failed on a vote of 2-3. | |
| SECONDED: | ||
|
VOTE
|
||
|
Court
|
Yes
|
|
|
Fenberg
|
Yes
|
|
|
Hill
|
No
|
|
|
Sonnenberg
|
No
|
|
|
Marble
|
No
|
|
|
YES: 2 NO: 3 EXC: 0 ABS: 0 FINAL ACTION: FAIL
|
||
| BILL: | HB17-1026 | |
| TIME: | 02:06:36 PM | |
| MOVED: | Marble | |
| MOTION: | Postpone House Bill 17-1026 indefinitely using a reversal of the previous roll call. There was no objection to the use of the reverse roll call, therefore, the bill was postponed indefinitely. The motion passed on a vote of 3-2. | |
| SECONDED: | ||
|
VOTE
|
||
|
Court
|
No
|
|
|
Fenberg
|
No
|
|
|
Hill
|
Yes
|
|
|
Sonnenberg
|
Yes
|
|
|
Marble
|
Yes
|
|
|
Final YES: 3 NO: 2 EXC: 0 ABS: 0 FINAL ACTION: PASS
|
||