REALTORS across the state continue to review bills produced by the 2014 legislature. Here’s an update regarding bills of interest to our industry and the positions taken by CAR’s Legislative Policy Committee:
SB-09 Disclose Separate Mineral Estate – Neutral
This bill has been modified so the buyer is responsible for researching mineral rights and the seller and Realtor are not. The Division of Real Estate successfully lobbied to change the implementation date for this bill. If it passes, it will become law in 2016.
HB-1165 Private Construction Contracts – Oppose
This bill is sponsored by Rep. Randy Fischer (Fort Collins). The bill requires property owners who contract for improvements to pay 95 percent of the amount due, with a maximum 5 percent security fee. If a person fails to make required payments, the person must pay in interest and is liable for attorney fees. The LPC believes that it is not the government’s role to interfere in contracts. HB-1165 was assigned to the Business, Labor, Economic and Workforce Development Committee in January but no hearings have been held.
HB-1136 Regulation of Continuing Professional Education – Support
This bill was sought by CAR to allow associations to continue to offer classes to non-REALTORS. Last year’s CE bill accidentally made that option illegal. The bill was introduced in January and assigned to the Education committee but no hearings have been scheduled.