This week, the Bell Policy Center submitted testimony in favor of two bills, HB 1119 and HB 1400.
HB 1400 would require those "facilitators" who prepare tax returns and arrange refund-anticipation loans (RALs) to register with the Internal Revenue Service. The Bell considers these loans to be a type of predatory lending that strips resources from low- and moderate-income communities.
House Bill 10-1400: Concerning refund-anticipation loans and requiring facilitators to register as electronic return originators
Rich Jones Director of policy and research, The Bell Policy Center
April 14, 2010
Thank you for the opportunity to submit this testimony to the Business Affairs and Labor Committee. The Bell is a non-partisan, non-profit research and advocacy organization dedicated to making Colorado a state of opportunity for all.